This book examines the relation between demographic factors and
real asset returns, which has received little attention. We begin
by discussing the implications of major growth models for this
relationship. Then we propose a model to derive the testable
equations which show us the explicit relation. Our results show
that real asset returns are fairly significantly and positively
affected by population growth, especially when the sample period is
extended and long horizon span methods are used, although the size
and power of the effect vary among samples and assets. We find the
key channel through which demographics affect asset returns is the
capital dilution caused by the population growth with the evidence
from a cross section sample of forty-three countries and regions.
Our results demonstrate the importance of examining the
relationship between demographic variables and asset returns for
economic policies and its role in the business cycle and other
areas. The book will appeal to policy makers, researchers, and
professionals interested in theoretical, applied, and policy issues
related of demographics effects on financial markets.
General
Imprint: |
VDM Verlag
|
Country of origin: |
Germany |
Release date: |
June 2009 |
First published: |
June 2009 |
Authors: |
Yong Yu
|
Dimensions: |
229 x 152 x 10mm (L x W x T) |
Format: |
Paperback - Trade
|
Pages: |
168 |
ISBN-13: |
978-3-639-17082-5 |
Categories: |
Books >
Business & Economics >
Business & management >
General
|
LSN: |
3-639-17082-2 |
Barcode: |
9783639170825 |
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