The Impact of Global Aging on Capital Markets and Housing

Axel Börsch-Supan
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Axel Börsch-Supan: University of Mannheim

A chapter in Demographic Change in Germany, 2008, pp 65-88 from Springer

Abstract: Abstract Aging has complex effects on the markets for real capital — capital used in the production of goods and services, and housing capital. If elderly people save less than younger people, an aging society saves less. This should increase interest rates since supply of funds gets tight. At the same time, the younger generation becomes ever smaller, so there is also less demand for new investment. The equilibrium effect is thus uncertain.

Keywords: Capital Market; Saving Rate; Pension System; Residential Property; Pension Reform (search for similar items in EconPapers)
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-540-68137-3_4

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DOI: 10.1007/978-3-540-68137-3_4

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