Do Demographic Changes Affect Risk Premiums? Evidence from International Data
نویسندگان
چکیده
منابع مشابه
Do Demographic Changes Affect Risk Premiums? Evidence from International Data∗
We examine the link between equity risk premiums and demographic changes using a very long sample over the twentieth century for the US, Japan, UK, Germany and France, and a shorter sample covering the last third of the twentieth century for fifteen countries. We find that demographic variables significantly predict excess returns internationally. However, the demographic predictability found i...
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ژورنال
عنوان ژورنال: The Journal of Business
سال: 2005
ISSN: 0021-9398,1537-5374
DOI: 10.1086/426528