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Money, Finance and Demography: The Consequences of Ageing

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Editor Info

  • Morten Balling
    ()
  • Ernest Gnan
    ()
  • Frank Lierman
    ()

Additional information is available for the following registered editor(s):

Author Info

  • Ignazio Visco
  • Barry Eichengreen
  • Gilles Mourre
  • Declan Costello
  • Giuseppe Carone
  • Nuria Diez Guardia
  • Bartosz Przywara
  • Aino Salomäki
  • Vincenzo Galasso
  • Mark Weth
  • Sebastian Schich
  • Etienne de Callataÿ
  • Martin Werding
  • Marianna Brunetti
  • Costanza Torricelli
  • Wim W. Boonstra
  • Stefan W. Schmitz
  • Hana Genorio

Abstract

A significant ageing trend can be observed in Europe and in other parts of the world. Fertility is decreasing and life expectancy increasing. The impact of migration is growing. The book deals with the implications for financial markets of these demographic trends. Leading economists and financial experts from Europe and the United States evaluate the challenges to public pension systems and the private pension industry. Based on long-term projections of productivity and employment they look at potential growth in GDP per capita and implications for savings and wealth. Pension fund portfolio management is discussed together with the ability of capital markets to serve retirement-financing purposes. Fiscal as well as financial sustainability are analysed in depth. The roles of global imbalances and international capital movements are included. Most chapters also discuss policy implications - in particular with regard to how pension saving incentives and rules and incentives for retirement should be in order to ensure fiscal and financial sustainability. All contributions in the book are based on presentations at the 26th SUERF Colloquium on "Money, Finance and Demography - the Consequences of Ageing" held on 12-14 October, 2006 in Lisbon sponsored by Banco de Portugal and Millennium bcp and in cooperation with the Universidade Nova de Lisboa.

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Bibliographic Info

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This book is provided by SUERF - The European Money and Finance Forum in its series SUERF Colloquium Volumes with number 1 and published in 2007.

Handle: RePEc:erf:erfcol:1

Contact details of provider:
Postal: SUERF c/o OeNB, Otto-Wagner-Platz 3, A-1090 Vienna, Austria
Phone: +43/1/404 20 7216
Fax: +43/1/404 20 7298
Email:
Web page: http://www.suerf.org
More information through EDIRC

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Postal: SUERF c/o OeNB, Otto-Wagner-Platz 3, A-1090 Vienna, Austria
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References

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  1. Productivity Commission, 2005. "Reform of Building Regulation," Others 0506007, EconWPA.
  2. David Hauner, 2005. "Aging," IMF Working Papers 05/71, International Monetary Fund.
  3. Barry Eichengreen & Jurgen von Hagen, 1996. "Fiscal Policy and Monetary Union: Is There a Tradeoff between Federalism and Budgetary Restrictions?," NBER Working Papers 5517, National Bureau of Economic Research, Inc.
  4. André Sapir & Marco Buti, 1998. "Economic policy in EMU," ULB Institutional Repository 2013/8078, ULB -- Universite Libre de Bruxelles.
  5. Buti, Marco & Eijffinger, Sylvester C W & Franco, Daniele, 2003. "Revisiting the Stability and Growth Pact: Grand Design or Internal Adjustment?," CEPR Discussion Papers 3692, C.E.P.R. Discussion Papers.
  6. מחקר - ביטוח לאומי, 2005. "Summary for 2004," Working Papers 31, National Insurance Institute of Israel.
  7. Franco, Daniele & Marino, Maria Rosaria & Zotteri, Stefania, 2004. "Pension Expenditure Projections, Pension Liabilities and European Union Fiscal Rules," Discussion Paper 231, Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University.
  8. Elena Flores & Gabriele Giudice & Alessandro Turrini, 2005. "The framework for fiscal policy in EMU: What future after five years of experience?," European Economy - Economic Papers 223, Directorate General Economic and Monetary Affairs (DG ECFIN), European Commission.
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Citations

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Cited by:
  1. Graziella Bertocchi & Marianna Brunetti & Costanza Torricelli, 2009. "Marriage and Other Risky Assets: A Portfolio Approach," CHILD Working Papers wp03_09, CHILD - Centre for Household, Income, Labour and Demographic economics - ITALY.
  2. Axel H. Börsch-Supan, 2012. "Entitlement Reforms in Europe: Policy Mixes in the Current Pension Reform Process," NBER Working Papers 18009, National Bureau of Economic Research, Inc.
  3. Axel H. Börsch-Supan, 2012. "Entitlement Reforms in Europe: Policy Mixes in the Current Pension Reform Process," NBER Chapters, in: Fiscal Policy after the Financial Crisis, pages 405-435 National Bureau of Economic Research, Inc.
  4. Marianna Brunetti & Costanza Torricelli, 2010. "Demographics and asset returns: does the dynamics of population ageing matter?," Annals of Finance, Springer, vol. 6(2), pages 193-219, March.
  5. Stefan W. Schmitz, 2007. "Demographic Change, Bank Strategy and Financial Stability," Financial Stability Report, Oesterreichische Nationalbank (Austrian Central Bank), issue 13, pages 98-114.

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