Demographic Developments, Funded Pension Provision and Financial Stability

Stefan W. Schmitz

Finance from EconWPA

Abstract: The 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.

Keywords: Demographic change; aging; funded pensions; financial stability (search for similar items in EconPapers)
JEL-codes: G G J (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-fmk
Date: 2005-10-18
Note: Type of Document - pdf; pages: 17. Appears in OeNB Financial Stability Report 9
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Journal Article: Demographic Developments, Funded Pension Provision and Financial Stability (2005)
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Persistent link: http://EconPapers.repec.org/RePEc:wpa:wuwpfi:0510023

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