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This paper explores the theoretical relationship between the population growth rate and asset prices implied by an … overlapping-generations model. The model shows that changes in a population's age distribution affect asset prices but such … magnitude of the relationship but does not change the sign or timing of the relationship between a population's age distribution …
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This paper presents a model of economic growth based on the life-cycle hypothesis to determine the path of capital accumulation and economic growth as the baby boom passes through the U.S. economy. The model predicts that a baby boom causes a temporary decline of the capital-labor ratio. The...
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Presentation at Lincoln University, Jefferson City, Mo., Oct. 4, 2004
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Presentation to the Global Economic Outlook (GEO) Conference, West Palm Beach, Fla., March. 8, 2005
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Presentation to the Global Economic Outlook (GEO) Conference, West Palm Beach, Fla., March. 8, 2005
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