Showing 1 - 10 of 4,169
prices, and if they adjust their non-housing savings accordingly, then welfare losses in retirement could be mitigated. This … prices?; and (2) How are household savings decisions affected by capital gains in housing? We use metropolitan statistical … forecastability of housing prices. Further, we use data on five-year savings rates from the Panel Study of Income Dynamics and find no …
Persistent link: https://www.econbiz.de/10012474266
In comparing Canada with the U.S., we first simulate the U.S. demographic transition, treating the U.S. as a closed economy. The time path of interest rates obtained from the U.S. simulations are then used in the Canadian simulations. In the Canada simulations, Canada is assumed to be an open...
Persistent link: https://www.econbiz.de/10012475628
This paper compares the predictions of three different saving models with respect to the impact of projected U.S. demographic change on future U.S. saving rates. The three models are the life cycle model, the infinite horizon altruism model, and a reduced form econometric model. The findings for...
Persistent link: https://www.econbiz.de/10012475629
This paper focuses on U.S. saving, demographics, and fiscal policy. We use data from the Consumer Expenditure Surveys of the 1980s to consider the effect of demographic change on past and future U.S. saving rates. Our findings indicate that demographic change may significantly alter the U.S....
Persistent link: https://www.econbiz.de/10012475893
The age-earnings profile of male workers is significantly influenced by the age composition of the workforce. When the number of young workers increased sharply in the 1970s, the profile "twisted" against them, apparently because younger and older male workers are imperfect substitutes in...
Persistent link: https://www.econbiz.de/10012478833
Population aging is primarily the result of past declines in fertility, which produced a decades long period in which the ratio of dependents to working age adults was reduced. Rising old-age dependency in many countries represents the inevitable passing of this "demographic dividend." Societies...
Persistent link: https://www.econbiz.de/10012466508
According to our simulation model, these policy changes would almost double the U.S. capital stock by the end of the century and raise long-run real wages by 19 percent compared to the base case alternative. They would also preclude a doubling of the highly regressive payroll tax. Indeed, the...
Persistent link: https://www.econbiz.de/10012466814
We assess the evidence on the contribution of changes in the population age structure to the changing fortunes of youths in labor markets in advanced economies over the 1970s, 1980s and early 1990s, and use this evidence to project the likely effects of future cohort sizes on youth labor...
Persistent link: https://www.econbiz.de/10012472786
Real house prices are directly determined by the willingness of households to pay for (and willingness of builders to supply) a constant-quality house. Changes in the quantity of housing demanded will affect real prices only to the extent that the long-run housing supply schedule is positively...
Persistent link: https://www.econbiz.de/10012474627
This paper examines the extent to which changes in working-age shares associated with population aging might slow economic growth in upcoming years. We first analyze the economic effects of changing working-age shares in a standard empirical growth model using country panel data from 1950-2015....
Persistent link: https://www.econbiz.de/10014337818