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-generations asset pricing model. The model predicts that as more individuals reach the age when the increment to their wealth reaches … the Surveys of Consumer Finances indicates that individuals aged 45 to 54 have the largest increment to wealth of all age … group. Time series estimates confirm that a close link exists between aggregate household wealth and the size of this age …
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Remarks at the National Association for Business Economics Annual Meeting, New York City.
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Remarks at the National Association for Business Economics Annual Meeting, New York City.
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This paper addresses the issue of portfolio risk exposure as a function of age, and it focuses the debate by presenting detailed cross-sectional evidence about individual portfolios. It provides new empirical results that characterized the relationship between age and the risk exposure of...
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demography in determining the current account balance. The estimated demographic effect on the current account balance exceeds …
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