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• W1480713159 abstract "We examine the link between equity risk premiums and demographic changes using a very long sample over most of the twentieth century for the US, Japan, UK, Germany and France, and a shorter sample from 1970-1998 for fifteen countries. We find that demographic variables do predict excess returns internationally. However, the demographic predictability found in the US by past studies for the average age of the population does not extend to other countries. Pooling international data, we find that, on average, increases in the fraction of retired persons decrease risk premiums." @default.
• W1480713159 created "2016-06-24" @default.
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• W1480713159 date "2001-01-01" @default.
• W1480713159 modified "2023-09-24" @default.
• W1480713159 title "Do Demographic Changes Affect Risk Premiums? Evidence from International Data" @default.
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• W1480713159 doi "https://doi.org/10.2139/ssrn.276589" @default.
• W1480713159 hasPublicationYear "2001" @default.
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