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...

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...

This paper introduces the microWELT model. Starting from its objectives, we discuss design choices, the model architecture and key features. microWELT provides a demographic projection tool reproducing Eurostat population projections but adding details such as education, intergenerational...

The aim of this paper is twofold: First, it provides an overview of the socio-demographic core modules of the dynamic microsimulation model microWELT. Second, it describes the essential socio-demographic characteristics of four European countries - Austria, Spain, Finland, and UK as...

This paper studies how changes in the population composition by education and family characteristics impact on indicators of the economic effects of population ageing based on National Transfer Accounts (NTAs). NTAs constitute cross-sectional per-capita age-profiles of the key variables of...

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...

We quantify the development of the potential labour force in Germany from 2014 to 2050 and pose the question as to which extent migration will be able to offset the well-known negative demographic influence. The mean overall results of this long period of time show that while migration may...

The progressive ageing process concerns both Poland and the other Member States of the European Union. In recent years, the share of workers of non-mobile and post-productive age in the total population has been rising, and according to forecasts, in 2035 people aged 45 years and over will...