Publications


June 24, 2019

Income and wealth during the course of life

Do households diminish their wealth during retirement? The life-cycle model by Modigliani and Brumberg (1954) suggests they do, but the empirical evidence in the literature does not support this hypothesis.

Income and wealth during the course of life
May 27, 2016

Determinants of long-term interest rates

The nominal long-term interest rate decreased in the past decades due to the decrease in (expected) inflation and in potential growth and due to changes in the age structure of the population.