The Economic and Financial Market Consequences of Global Ageing

One: Economic and Financial Market Consequences of Global Ageing.- Executive Overview.- Section 1: Global Demographic Trends and Forecasts 1950–2050.- Section 2: How is Ageing Likely to Impact Economically over the Next 50 Years: What are the Main Transmission Mechanisms?.- Section 3: Global Capital Market Developments, Current Account Imbalances and the Evidence for Agerelated International Capital Flows.- Section 4: Global Ageing Scenario 2000–2050.- Section 5: Policy Response: How Can the EU and the World as a Whole Effectively Deal with the Challenges of Ageing?.- Detailed Summary of Main Points from Part 1.- Two: EU Pension Reform — an Overview of the Debate and an Empirical Assessment of the Main Policy Reform Options.- Executive Overview of Key Policy Conclusions.- Introductory Remarks.- Section 1: Overview of the Pension Reform Debate.- Section 2: Description of Model Used to Assess the Pension Reform Options.- Section 3: PAYG System: Economic Assessment of the Main Parametric / Labour Market Reform Options: What is needed to Bring the System Back into Equilibrium?.- Section 4: Systemic Reform: 2 Key Factors to be Considered: Internal Rates of Return + Transition Burden.- Section 5: Economic Assessment of a Full / Partial Shift to Funding.- Section 6: An “Optimal” EU Pension Reform Strategy.- Detailed Summary of Main Points from Part 2.- Three: Annexes.- Annex 1: Member States Analysis.- Annex 2: Detailed Description of Ageing Model.- Annex 3: Basic Data on Savings, Wealth Holdings and Retirement Income Financing.- Annex 4: Results of Comparable Ageing Studies.- Annex 5: Prefunding within the PAYG System: Intergenerational Equity Objective.- List of Graphs.- List of Tables.- References.