Over at the Bank for International Settlements, Elod Takats has a new working paper that examines how demographics may affect asset prices (ht Torsten Slok). As he notes, standard economic theories suggest that aging will lead to lower asset prices. In an overlapping generations model, for example: [T]he young save for old age by buying [...]
Posts Tagged ‘Pensions’
House Prices: Demographics Giveth and Taketh Away
Posted in Finance, Macroeconomics, tagged Finance, Housing, Macroeconomics, Pensions on August 6, 2010 | 6 Comments »
Gaming the Budget Window
Posted in Budget, tagged Budget, Pensions, Taxes on June 23, 2010 | 1 Comment »
Faced with continuing gridlock over a soup-to-nuts extenders bill, congressional leaders have gotten creative in their legislative strategy. Exhibit A is a stripped-down bill that passed the Senate by unanimous consent on Friday. This bill would temporarily reverse the 21% cut in Medicare physician payment rates that took effect earlier this month. The price tag [...]
Borrowing from One Pocket to Lend to the Other
Posted in Budget, tagged Budget, New York, Pensions, States on June 12, 2010 | 3 Comments »
Public pensions funds are the key budget challenge facing many state and local governments. Why? Because it’s been easy for officials to promise future pension benefits without setting aside enough money to pay for them (the same problem afflicts corporate pension plans and Social Security). The New York Times has a front-page story describing New [...]
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