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Do demographic changes matter? A cross-country perspective

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  • Šević, Aleksandar
  • Brawn, Derek

Abstract

We explore the inflation-adjusted yields on benchmark 10-year government bonds in seven developed countries to see if both demographic and non-demographic variables can explain why real bond yields are so low.

Suggested Citation

  • Šević, Aleksandar & Brawn, Derek, 2015. "Do demographic changes matter? A cross-country perspective," Journal of Multinational Financial Management, Elsevier, vol. 30(C), pages 36-61.
    • Handle: RePEc:eee:mulfin:v:30:y:2015:i:c:p:36-61
    DOI: 10.1016/j.mulfin.2014.12.001
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    Cited by:

    1. Luc Renneboog & Peter G. Szilagyi & Cara Vansteenkiste, 2017. "Creditor rights, claims enforcement, and bond performance in mergers and acquisitions," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 48(2), pages 174-194, February.
    2. Renneboog, Luc & Szilagyi, Peter & Vansteenkiste, Cara, 2017. "Creditor rights, claims enforcement, and bond returns in mergers and acquisitions," Other publications TiSEM ef3ad779-66b4-4fca-a8e8-7, Tilburg University, School of Economics and Management.
    3. Gábor Kutasi & László György & Krisztina Szabó, 2018. "Behavioural Factors in the Hungarian Retail Government Bond Market," Financial and Economic Review, Magyar Nemzeti Bank (Central Bank of Hungary), vol. 17(1), pages 110-136.
    4. Wen-Yi Chen, 2017. "Demographic structure and monetary policy effectiveness: evidence from Taiwan," Quality & Quantity: International Journal of Methodology, Springer, vol. 51(6), pages 2521-2544, November.

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    More about this item

    Keywords

    Population; Population ratio; Bond yield; Quantitative easing;
    All these keywords.

    JEL classification:

    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends, Macroeconomic Effects, and Forecasts

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