This paper investigates how changes to the age distribution of cities' resident popu-lations shape the growth rate of local house prices in different market segments. For estimation purposes, we combine city-level demographic information with de-tailed housing price data for 87 German cities...

This paper investigates the long-run relationships between the size and age composition of a city's population and the price of local housing. For estimation purposes, we combine city-level demographic information with housing price data for 87 cities in Germany over the period 1995-2012....

This paper investigates the effects of each age group in the population on housing prices, the returns on different classes of bonds and the excess returns on equity across countries and over time. Previous empirical research focusing on a single country found a negative effect of the ratio of...

This paper investigates the long-run relationships between the size and age composition of a city's population and the price of local housing. For estimation purposes, we combine city-level demographic information with housing price data for 87 cities in Germany over the period 1995-2012....

Exploiting regional heterogeneity in population dynamics across more than 10,000 municipalities in Germany, we provide robust empirical evidence that population aging depresses real estate prices and rents. Using millions of individual real estate offers and detailed demographic data on the...

How does a shrinking population affect the housing market? In this study, drawing on Japan's experience, we find that there exists an asymmetric relationship between housing prices and population change. Due to the durability of housing structures, the decline in housing prices associated with...

Population forecasts are crucial for many social, political and economic decisions. Official population projections rely in general on deterministic models which use different scenarios for future vital rates to indicate uncertainty. However, this technique shows substantial weak points such as...

This paper studies the effect of population ageing on the inter- and intra-generational redistribution of income from a longitudinal perspective, comparing lifetime measures of income and transfers by generation, gender, education and family characteristics. For this end, we incorporate new...

Der demografische Wandel ist in den meisten Industrienationen mit einer Alterung und Schrumpfung der Erwerbsbevölkerung verbunden. Daraus ergeben sich erhebliche Konsequenzen für zentrale makroökonomische Größen wie das Bruttoinlandsprodukt, die Arbeitsproduktivität, die Ersparnisse und...

The demographic transition is a phenomenon affecting many industrialized societies. These economies are experiencing a decline in mortality alongside low fertility rates - a situation that puts social security systems under severe pressure. To implement appropriate reform measures, adequate...