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The Effects of a Baby Boom on Stock Prices and Capital Accumulation in the Presence of Social Security

Abel, Andrew B. - 2002

Is the stock market boom a result of the baby boom? This paper develops an overlapping generations model in which a baby boom is modeled as a high realization of a random birth rate, and the price of capital is determined endogenously by a convex cost of adjustment. A baby boom increases...

Persistent link: https://www.econbiz.de/10012469499

Migration and Pension

Razin, Assaf - 1998

Migration has important implications for the financial soundness of the pension system, which is an important pillar of the welfare state. While it is common sense to expect that young migrants, even if low-skilled, can help society pay the benefits to the currently elderly, it may nevertheless...

Persistent link: https://www.econbiz.de/10012472035

Stock market efficiency and economic efficiency : is there a connection?

Dow, James; Gorton, Gary - 1995

Persistent link: https://www.econbiz.de/10000917608

Stock Market Efficiency and Economic Efficiency : Is There a Connection?

Dow, James - 1995

discretion in determining the level of investment. What is the link between stock price informational efficiency and economic … efficiency? We present a model of the stock market in which: (i) managers have discretion in making investments and must be given …

Persistent link: https://www.econbiz.de/10012473644

Expectations, Efficiency, and Euphoria in the Housing Market

Capozza, Dennis R. - 1995

This paper studies expectations of capital appreciation in the housing market. We show that expectations impounded in the rent/price ratio at the beginning of the decade successfully predict appreciation rates, but only if we first control for cross-sectional differences in the quality of rental...

Persistent link: https://www.econbiz.de/10012473700

Asset Pricing and Intrinsic Values : A Review Essay

Lehmann, Bruce N. - 1991

efficiency tests. Reflections on the measurement of intrinsic value provide insight into the interpretation of existing evidence … and suggestions for generating new evidence on market efficiency. This review essay on the state of knowledge about market … efficiency focuses on "A Reappraisal of the Efficiency of Financial Markets", analyzing the research areas from this perspective …

Persistent link: https://www.econbiz.de/10012475116