This paper explores the relationship between age distribution and asset returns impled by an overlapping-generations asset pricing model. The model predicts that as more individuals reach the age when the increment to their wealth reaches its maximum, asset returns fall. Cross-sectional evidence...

The standard measures of nominal capital formation show the United States investing a proportion of GDP much lower than those of other developed countries throughout the last 2 years and falling further behind over time. In contrast, measures we have calculated in real terms across and over time...

Postrecession, the asset-building movement continues to gain momentum across the country. Individuals and families pursue wealth-building strategies based on such time-honored principles as budget to save, save to invest, credit building, controlling debt and protecting wealth once it has been...

Remarks at the New Jersey Bankers Association Economic Forum, Iselin, New Jersey.

Remarks at the Barclays 16th Annual Global Inflation-Linked Conference, New York City.

Related links: http://www.richmondfed.org/publications/research/region_focus/2011/q4/feature3_weblinks.cfm