Auclert, Adrien; Malmberg, Hannes; Martenet, Frederic; … - 2021
We use a sufficient statistic approach to quantify the general equilibrium effects of population aging on wealth … countries, we measure the compositional effect of aging: how a changing age distribution affects wealth-to-GDP, holding the age … wealth-to-GDP ratios, lower asset returns, and widen global imbalances through the twenty-first century. These conclusions …