Demography and Equity Premium

descriptionPublicationkeyboard_double_arrow_right Article , Other literature type , Research , Preprint 01 Jan 2008 Germany English Publisher:Elsevier BVJournal:SSRN Electronic Journal (eissn: 1556-5068,

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Authors: Wolfgang Kuhle;

doi: 10.2139/ssrn.1444890

Demography and Equity Premium

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Abstract

This article comprises a tractable two-generations-overlapping, stochastic, neoclassical production economy, where government bonds are in positive net supply. In this framework we show that the entrance of larger (smaller) cohorts into the labor market will lead to an increase (decrease) in the risky and the riskless rate and to an increase (decrease) in the expected equity premium.

Country

Germany

Related Organizations

Max Planck Society
Germany
University of Mannheim
Germany
Max Planck Institute for Research on Collective Goods
Germany

Keywords

330

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