Aging population may improve fiscal sustainability – paper
More old people means more money to invest in assets like government bonds, researchers point out
Population aging may allow governments to borrow more if the rise in sovereign bond demand outstrips the increase of public borrowing needs, a group of economists has argued.
The paper, presented at the Jackson Hole conference on Saturday (August 23), looks at how aging societies will affect the demand and supply of assets, mainly government bonds.
The authors – Adrien Auclert, Hannes Malmberg, Matthew Rognlie and Ludwig Straub – acknowledge that an aging population will increase fiscal spending
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