Working Paper – Ageing, property prices and money demand
Ageing, property prices and money demand, by Kiyohiko G Nishimura and Előd Takáts, Working Papers No 385. September 2012, BIS “When the baby boomers joined the workforce and started saving, money supply and property prices entered a rising trajectory. We conclude that demography was the long-run driver of this process, basing our argument on data …