Aging of populations and convergence between developed and developing countries in per capita incomes are shaping the evolution of saving, investment, capital flows, and, in particular, the cost of capital. When considering these trends, the existing literature argues for either continued, low interest rates, or sharply rising ones. This paper presents an alternative view: modest rises in interest rates, which result from a combination of increases...
Exibir mais
DETALHES
-
2014/07/01
-
WPS6989
-
1
-
1
-
2014/07/01
-
Disclosed
-
Capital will not become more expensive as the world ages
-
constant elasticity of substitution function
DOWNLOADS
COMPLETAR RELATÓRIO
Versão oficial do documento (pode conter assinaturas, etc.)
-
Total Downloads** : 1304
*A versão do texto é um OCR incorreto e está incluído unicamente em benefício de usuários com conectividade lenta.