Global Aging And Financial Markets
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| Author | : Robert Stowe England |
| Publisher | : CSIS |
| Total Pages | : 100 |
| Release | : 2002 |
| Genre | : Business & Economics |
| ISBN | : 9780892063925 |
The retirement of the baby boom generation poses a challenge to the world's financial markets. This book examines the prospect that, after 2020, pension funds will have to pay out more in benefits than employers will be contributing, and it considers the extent to which individuals will liquidate equity holdings, or switch to bond holdings, or do both to sustain their living standards. The book examines the possibility that these changes will drive down equity values and bond returns.
| Author | : Robert Holzmann |
| Publisher | : World Bank Publications |
| Total Pages | : 184 |
| Release | : 2009 |
| Genre | : Business & Economics |
| ISBN | : 0821377329 |
Population aging will affect the performance of pension funds and financial markets in the former transition economies and require determined policy actions to complete financial market development and to promote financial literacy through education.
| Author | : Alan J. Auerbach |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 353 |
| Release | : 2013-11-11 |
| Genre | : Business & Economics |
| ISBN | : 3662047799 |
The book gives an overview of the implications of population ageing on economic development and financial systems. It describes several challenges which the ageing process poses for central banks, giving special consideration to the situation in Europe. The first two chapters discuss the relationship between ageing and saving and between ageing and international capital flows. Other chapters consider the possible implications for financial markets. The final part raises issues which are of particular relevance for central banks, namely ageing and financial stability and how ageing will affect monetary policy.
| Author | : National Research Council |
| Publisher | : National Academies Press |
| Total Pages | : 230 |
| Release | : 2013-01-10 |
| Genre | : Social Science |
| ISBN | : 0309261961 |
The United States is in the midst of a major demographic shift. In the coming decades, people aged 65 and over will make up an increasingly large percentage of the population: The ratio of people aged 65+ to people aged 20-64 will rise by 80%. This shift is happening for two reasons: people are living longer, and many couples are choosing to have fewer children and to have those children somewhat later in life. The resulting demographic shift will present the nation with economic challenges, both to absorb the costs and to leverage the benefits of an aging population. Aging and the Macroeconomy: Long-Term Implications of an Older Population presents the fundamental factors driving the aging of the U.S. population, as well as its societal implications and likely long-term macroeconomic effects in a global context. The report finds that, while population aging does not pose an insurmountable challenge to the nation, it is imperative that sensible policies are implemented soon to allow companies and households to respond. It offers four practical approaches for preparing resources to support the future consumption of households and for adapting to the new economic landscape.
| Author | : Jan B. Kune |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 166 |
| Release | : 2012-12-06 |
| Genre | : Political Science |
| ISBN | : 3642501702 |
Nearly all countries in the world are experiencing an aging of their populations due to declining fertility rates and rising longevity. Aging has been the subject of much discussion in the last decade, often expressed in alarmist language. On Global Aging presents a more optimistic look on the effects of aging on the economy. Nonetheless aging will pose major policy challenges on the well functioning of the economy and the society as a whole. The book describes and analyses the effects of population aging on social and economic issues, labour and financial markets, pension and health care expenditures and public finance, and the welfare of people. It surveys also the policy measures in the face of aging to secure the resource base. They are mainly aimed at increasing labour force participation and above all at stimulating productivity growth. The book is a valuable resource for practitioners and policy makers and the wider academic community, economists, social scientists, gerontologists and others.
| Author | : Charles Goodhart |
| Publisher | : Springer Nature |
| Total Pages | : 260 |
| Release | : 2020-08-08 |
| Genre | : Business & Economics |
| ISBN | : 3030426572 |
This original and panoramic book proposes that the underlying forces of demography and globalisation will shortly reverse three multi-decade global trends – it will raise inflation and interest rates, but lead to a pullback in inequality. “Whatever the future holds”, the authors argue, “it will be nothing like the past”. Deflationary headwinds over the last three decades have been primarily due to an enormous surge in the world’s available labour supply, owing to very favourable demographic trends and the entry of China and Eastern Europe into the world’s trading system. This book demonstrates how these demographic trends are on the point of reversing sharply, coinciding with a retreat from globalisation. The result? Ageing can be expected to raise inflation and interest rates, bringing a slew of problems for an over-indebted world economy, but is also anticipated to increase the share of labour, so that inequality falls. Covering many social and political factors, as well as those that are more purely macroeconomic, the authors address topics including ageing, dementia, inequality, populism, retirement and debt finance, among others. This book will be of interest and understandable to anyone with an interest on where the world’s economy may be going.
| Author | : Kieran McMorrow |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 335 |
| Release | : 2012-11-07 |
| Genre | : Social Science |
| ISBN | : 3540248218 |
Many countries will be confronted with ageing populations in the coming decades. This will crucially affect the economic outlook for the economy. Population changes directly affect the size of the labour force and consequently potential employment and output growth. Because the timing and magnitude of demographic changes varies significantly across regions, international capital flows will play an important role for the allocation of investment. This book offers a comprehensive treatment of ageing related issues based on a five region overlapping generations model and provides a quantitative assessment until 2050.
| Author | : Olivia S. Mitchell |
| Publisher | : |
| Total Pages | : 46 |
| Release | : 2006 |
| Genre | : Aging |
| ISBN | : |
Over the last half-century, around the world, many nations have seen plummeting fertility rates and mounting life expectancies. These two factors are the engine behind unprecedented global aging. In this paper, we explore how the demographic transition may influence financial markets and, in turn, how financial market innovation might help resolve concerns flowing from global aging trends. We first provide context by reviewing the economics, finance, and insurance-related literature on how global aging patterns may influence capital markets. We then turn to insurance markets, and discuss a range of products and policies, including both retail and wholesale financial offerings for various forms of life annuities, long-term care benefits, reverse mortgages, securitization of longevity risk, inflation-protected assets, reinsurance, guarantees, derivative contracts on residential property price indices, mortality swaps and longevity derivative contracts. We also indicate how new public-private partnerships might be beneficial in enhancing the future environment for old-age risk management.
| Author | : Robert Stowe England |
| Publisher | : Bloomsbury Publishing USA |
| Total Pages | : 156 |
| Release | : 2005-02-28 |
| Genre | : Social Science |
| ISBN | : 0313090947 |
China, the world's most populous nation, will enter a period of rapid aging very shortly that will redefine that country. Between 2010 and 2040, the portion of people 65 and older will rise from around 7% to between 25 and 30% of the population. As China ages, can it retain the youthful dynamism now driving it? China, the world's most populous nation, will enter a period of rapid aging very shortly that will redefine that country. Between 2010 and 2040, the number of people 65 and older will rise from around 7% to between 25 and 30% of the population. As China ages, can it retain the youthful dynamism now driving it? This book is an effort to try to capture the broad outlines of the significant economic, market, social, and demographic factors that will shape the future of China and the role that aging will play in the whole mix of influences. Aging in developed societies and economies has been widely studied. In such nations as Japan, Germany, Italy, and Spain, for example, we know that as populations age, their societies decline, leaving fewer younger workers to support the growing number of people who will become dependent on costly health care systems, or whose basic needs, such as food and shelter, will need to be subsidized. But less work has been done in assessing the potential impact of aging in developing countries, where the majority of people may be working poor, not middle class—as in the case of China. As China restructures its economy, the old benefits packages previously available to urban workers (and not rural workers) are being replaced by a patchwork of benefits across a wide range of enterprises.
| Author | : CSIS Commission on Global Aging |
| Publisher | : Center for Strategic & International Studies |
| Total Pages | : 100 |
| Release | : 2002 |
| Genre | : Business & Economics |
| ISBN | : |
The global economy faces a transition of unprecedented dimensions caused by rising old-age dependency and shrinking working-age populations among the world's largest economic powers. In an important respect, global aging represents a success story: the advent of mass survival into old age. But population aging is driven primarily by a decline in birthrates. Below-replacement birth rates over the past four decades have left Japan and Europe with the prospect of shrinking numbers of workers and consumers for much of the next half-century, while North America faces an abrupt slowing of labor force and population growth. These declines will occur even as the retirement of the postwar baby boom generation produces a large increase in pension-eligible populations across the developed world. For the nations directly affected, the likely consequences will include rising deficit pressures and slower economic growth. These problems will initially be felt in economies that today account for two-thirds of global output, which suggests that, in the absence of effective policy responses, global aging poses a significant threat to global prosperity. It was to examine and make recommendations on this cross-national challenge that the 85-member Commission on Global Aging -- consisting of leading voices from politics, business, civil society, and a range of academic disciplines from the United States, Japan, and Western Europe -- came together in 1999-2001 under the auspices of the CSIS Global Aging Initiative to develop policy recommendations for the countries most directly affected. This is the Commission's final report.
