Demographic Developments, Funded Pension Provision and Financial Stability
AbstractThe following study analyzes the impact of demographic developments in Austria on the long-term average real interest rate, funded pension provision and the implications of demographic developments for the stability of the financial system. The key results of this study are twofold: (1) Households' net supply of savings and the demand for capital by the corporate sector both need to be integrated into the empirical and theoretical analysis of the impact of demographic developments on financial markets. (2) In addition, funded pension provision is exposed to demographic risks.
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Bibliographic InfoPaper provided by EconWPA in its series Finance with number 0510023.
Length: 17 pages
Date of creation: 18 Oct 2005
Date of revision:
Note: Type of Document - pdf; pages: 17. Appears in OeNB Financial Stability Report 9
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Demographic change; aging; funded pensions; financial stability;
Other versions of this item:
- Schmitz, Stefan W., 2005. "Demographic Developments, Funded Pension Provision and Financial Stability," Financial Stability Report, Oesterreichische Nationalbank (Austrian Central Bank), issue 9.
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"Demography and the Long-run Predictability of the Stock Market,"
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MEA discussion paper series
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