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Ageing and Financial Markets

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Abstract

Over the next decades, OECD countries will experience a significant ageing of their populations. Changes in the age structure of populations affect the economy’s saving behaviour, including the level of saving and the choices of saving vehicles. During the 1990s, financial markets in general and equity markets in particular may have benefited from large inflows into pension funds and other institutionalised forms of saving. These inflows reflected to a considerable extent saving for retirement by baby boom generations. These baby boom generations are expected to start to move into retirement after 2010. Almost as a natural corollary to the developments during the 1990s, some observers have argued that when baby boomers start entering retirement they will become net sellers of financial assets to finance retirement consumption...

Suggested Citation

  • Oecd, 2004. "Ageing and Financial Markets," Financial Market Trends, OECD Publishing, vol. 2004(1), pages 85-120.
    • Handle: RePEc:oec:dafkab:5lmqcr2jf248
    DOI: 10.1787/fmt-v2004-art4-en
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    Cited by:

    1. Yasmine Essafi & Raphaël Languillon & Arnaud Simon, 2017. "The Relation between Aging and Housing Prices A Key Indicator for the French Spatial Wealth Reshaping [La relation Vieillissement-Prix immobiliers : un indicateur clé pour la réorganisation spatial," Working Papers halshs-01654445, HAL.
    2. Takáts, Előd, 2012. "Aging and house prices," Journal of Housing Economics, Elsevier, vol. 21(2), pages 131-141.
    3. Guonan Ma & Haiwen Zhou, 2009. "China's Large and Rising Net Foreign Asset Position," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 17(5), pages 1-21, September.
    4. Michael Berlemann & Marco Oestmann & Marcel Thum, 2014. "Demographic change and bank profitability: empirical evidence from German savings banks," Applied Economics, Taylor & Francis Journals, vol. 46(1), pages 79-94, January.
    5. Elod Takats, 2010. "Ageing and asset prices," BIS Working Papers 318, Bank for International Settlements.
    6. Abedifar, Pejman & Hasan, Iftekhar & Tarazi, Amine, 2016. "Finance-growth nexus and dual-banking systems: Relative importance of Islamic banks," Journal of Economic Behavior & Organization, Elsevier, vol. 132(S), pages 198-215.
    7. Döring, Diether & Buth, Rainer & Rosengart, Anja Helena, 2007. "Bedroht die künftige demographische Entwicklung die Vermögenswerte kapitalgedeckter Altersversorgungssysteme? Auswertung des Standes der internationalen Forschung," Arbeitspapiere 128, Hans-Böckler-Stiftung, Düsseldorf.
    8. Vistesen, Claus, 2009. "Ageing and Export Dependency," MPRA Paper 17655, University Library of Munich, Germany.
    9. Bonnie‐Jeanne MacDonald & Andrew J. G. Cairns, 2009. "Getting Feedback on Defined Contribution Pension Plans," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 76(2), pages 385-417, June.
    10. Yuko Nozaki, 2017. "The effects of higher education on childrearing fertility behavior in Japan," International Journal of Social Economics, Emerald Group Publishing Limited, vol. 44(5), pages 653-669, May.
    11. Amalia Cristescu, 2019. "The Impact Of The Aging Population On The Sustainability Of Public Finances," Romanian Journal of Regional Science, Romanian Regional Science Association, vol. 13(2), pages 52-67, DECEMBER.
    12. Murray R. Millson & David Wilemon, 2010. "The Impact Of Changing Markets And Competition On The Npd Speed/Market Success Relationship," International Journal of Innovation Management (ijim), World Scientific Publishing Co. Pte. Ltd., vol. 14(05), pages 841-870.
    13. Ross Guest & Robyn Swift, 2010. "Population Ageing and House Prices in Australia," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 43(3), pages 240-253, September.
    14. Yasmine Essafi & Arnaud Simon, 2015. "Housing market and demography, evidence from French panel data," ERES eres2015_165, European Real Estate Society (ERES).
    15. Busl, Claudia & Iliewa, Zwetelina & Jokisch, Sabine & Kappler, Marcus & Roscher, Thomas & Schindler, Felix & Schleer, Frauke, 2012. "Endbericht an das Bundesministerium der Finanzen zum Forschungsauftrag fe 11/11: "Sparen und Investieren vor dem Hintergrund des demografischen Wandels"," ZEW Expertises, ZEW - Leibniz Centre for European Economic Research, number 110554.
    16. Claudia Elena Dinuca & Dumitru Ciobanu, 2011. "On Two Algorithms Used In Web Structure Mining," Annals of University of Craiova - Economic Sciences Series, University of Craiova, Faculty of Economics and Business Administration, vol. 3(39), pages 186-193.
    17. Guonan Ma & Zhou Haiwen, 2009. "China’s evolving external wealth and rising creditor position," BIS Working Papers 286, Bank for International Settlements.
    18. Mr. Rene Weber & David S. Gerber, 2007. "Aging, Asset Allocation, and Costs: Evidence for the Pension Fund Industry in Switzerland," IMF Working Papers 2007/029, International Monetary Fund.
    19. Arnaud Simon & Yasmine Essafi, 2015. "Concurrence générationnelle et prix immobiliers," Working Papers halshs-01138074, HAL.

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