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Demographic Variation, Capital Accumulation and Asset Prices

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During 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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  • Espen Henriksen & Chris Telmer, 2004. "Demographic Variation, Capital Accumulation and Asset Prices," GSIA Working Papers 2004-E26, Carnegie Mellon University, Tepper School of Business.
    • Handle: RePEc:cmu:gsiawp:-1261638458
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    1. 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.).

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