The Consequences of Population Aging on Private Pension Fund Saving and Asset Markets
This paper examines the impact of the aging demographic structure of the U.S. on its funded private pension system. A 75-year outlook is produced for the pension system corresponding to the 75-year forecast of the Social Security system. The primary result is that the pension system will cease being a source of national saving in the third decade of the next century. The paper speculates about the impact this may have on asset prices.
|Date of creation:||Mar 1994|
|Date of revision:|
|Publication status:||published as The Economic Effects of Aging in the United States and Japan, Michael D. Hurd, Naohiro Yashiro, eds., pp. 111-130, (Chicago: University of Chicago Press, 1997).|
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