Demographic Variation, Capital Accumulation and Asset Prices
AbstractDuring the 1990s, asset prices increased significantly in North America and Western Europe and in particular in the United States. This surge in asset prices coincided with the baby boom generation entering its peak earnings and savings years. We use an OLG model with production to ask whether or not this demographic variation can account for the variation in asset prices and other macroeconomic aggregates.
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Bibliographic InfoPaper provided by Carnegie Mellon University, Tepper School of Business in its series GSIA Working Papers with number 2004-E26.
Date of creation: Oct 2004
Date of revision:
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Postal: Tepper School of Business, Carnegie Mellon University, 5000 Forbes Avenue, Pittsburgh, PA 15213-3890
Web page: http://www.tepper.cmu.edu/
This paper has been announced in the following NEP Reports:
- NEP-ALL-2004-12-12 (All new papers)
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- Robert F. Martin, 2005.
"The baby boom: predictability in house prices and interest rates,"
International Finance Discussion Papers
847, Board of Governors of the Federal Reserve System (U.S.).
- Robert F. Martin, 2006. "The Baby Boom: Predictability in House Prices and Interest Rates," 2006 Meeting Papers 84, Society for Economic Dynamics.
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