Boomer retirement: headwinds for U.S. equity markets?

Zheng Liu and Mark Spiegel

FRBSF Economic Letter, 2011, issue aug22

Abstract: Historical data indicate a strong relationship between the age distribution of the U.S. population and stock market performance. A key demographic trend is the aging of the baby boom generation. As they reach retirement age, they are likely to shift from buying stocks to selling their equity holdings to finance retirement. Statistical models suggest that this shift could be a factor holding down equity valuations over the next two decades.

Keywords: Retirement; Population aging; Stocks - Rate of return; Stockholders (search for similar items in EconPapers)
Date: 2011
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