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RESERVE BANK OF AUSTRALIA 2006 CONFERENCE

Demography and Financial Markets

23–25 July 2006

This G-20 workshop, jointly hosted by the Reserve Bank and the Australian Treasury, brought together academics, policy advisors, private sector participants and representatives from the participating G-20 nations. The workshop examined the impact of demographic trends on macroeconomic factors relevant to financial markets, particularly saving and investment, capital flows and asset prices, as well as on the structure and operation of financial markets. The participants also placed considerable focus on policy issues, identifying the nature and extent of possible market imperfections and impediments, and the scope for policy-makers to address these. A volume containing the workshop papers and discussions was published on 12 October 2006. To order a hard copy of the volume, please complete the Publications Order Form.

Download the complete volume (PDF1.8M)

Contents

• Table of Contents - PDF 171K

• Introduction - PDF 101K
  Christopher Kent, Anna Park and Daniel Rees

• Opening Remarks - PDF 64K
  Glenn Stevens and Martin Parkinson

• Global Demography: Fact, Force and Future - PDF 168K
  David E Bloom and David Canning
  Discussion - PDF 85K
  Charan Singh, Hiroshi Watanabe

• Optimal Private Responses to Demographic Trends: Savings, Bequests and International Mobility - PDF 217K
  Henning Bohn
  Discussion - PDF 68K
  Mariano Kulish

• Asymmetric Demography and Macroeconomic Interactions Across National Borders - PDF 262K
  Ralph C Bryant
  Discussion - PDF 74K
  Alain Duchâteau

• Demographic Change, Saving and Asset Prices: Theory and Evidence - PDF 255K
  Axel Börsch-Supan
  Discussion - PDF 67K
  Avinash D Persaud

• Will China Eat Our Lunch or Take Us to Dinner? Simulating the Transition Paths of the US, EU, Japan and China - PDF 280K
  Hans Fehr, Sabine Jokisch and Laurence J Kotlikoff
  Discussion - PDF 78K
  Wen Jiandong

• Demographic Change and Asset Prices - PDF 193K
  Robin Brooks
  Discussion - PDF 69K
  Helmut Schwarzer

• How Will Ageing Affect the Structure of Financial Markets? - PDF 186K
  E Philip Davis
  Discussion - PDF 80K
  Richard T Freeman

• Financial Innovation for an Ageing World - PDF 240K
  Olivia S Mitchell, John Piggott, Michael Sherris and Shaun Yow
  Discussion - PDF 63K
  Graydon Paulin

• Population Ageing, the Structure of Financial Markets and Policy Implications - PDF 182K
  W Todd Groome, Nicolas Blancher, Parmeshwar Ramlogan and Oksana Khadarina
  Discussion - PDF 77K
  Carmelo Salleo

• Wrap-up Discussion - PDF 134K
  Gary Burtless, James Glassman and Adair Turner

• Closing Remarks - PDF 78K
  Glenn Stevens and Martin Parkinson

• Biographies of Contributors - PDF 100K

• List of Conference Participants - PDF 71K