Demographic Trends and Household Savings and Investment

Mitsuru Katagiri, Takemasa Oda, Yasutaka Ogawa, Takeshi Shinohara and Nao Sudo
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Mitsuru Katagiri: Hosei University
Takemasa Oda: Bank of Japan
Yasutaka Ogawa: Bank of Japan
Takeshi Shinohara: Bank of Japan

No 24-E-1, Bank of Japan Research Laboratory Series from Bank of Japan

Abstract: It is generally believed that the demographic landscape affects the natural rate of interest and aggregate asset composition, such as money vs. real assets, by influencing household savings-investment behaviors. This article provides an overview of the insights of prior studies regarding the macroeconomic consequences of population aging and describes some of the quantitative implications derived from overlapping generations models.

Keywords: Wage; Demographics; Household asset portfolio; Natural rate of interest; Deflation; Current account (search for similar items in EconPapers)
JEL-codes: E21 E31 J11 (search for similar items in EconPapers)
Date: 2024-07-26
New Economics Papers: this item is included in nep-age and nep-fdg
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