Jünger Can't Borrow: Demographic Imbalances and Currency Risk Premia
Empirically, countries with relatively old populations have significantly lower interest rates and currency returns. As a first step towards explaining this fact, I develop a two-country overlapping generations model to study the relationship between the global wealth distribution and currency risk...
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Massachusetts Institute of Technology
2022
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| Online Access: | https://hdl.handle.net/1721.1/144667 |