Auclert, Adrien; Malmberg, Hannes; Martenet, Frederic; … - 2021
We use a sufficient statistic approach to quantify the general equilibrium effects of population aging on wealth … accumulation, expected asset returns, and global imbalances. Combining population forecasts with household survey data from 25 … countries, we measure the compositional effect of aging: how a changing age distribution affects wealth-to-GDP, holding the age …