Robert Stowe England is a journalist and the director of research for the CSIS Global Aging Initiative. He is the author of two related studies: The Fiscal Challenge of an Aging Industrial World (CSIS, 2002) and The Macreconomic Impact of Global Aging: A New Era of Economic Frailty? (CSIS, 2002)
The retirement of the baby boom generation poses a challenge to the world's financial markets. This book examines the prospect that, after 2020, pension funds will have to pay out more in benefits than employers will be contributing, and it considers the extent to which individuals will liquidate equity holdings, or switch to bond holdings, or do both to sustain their living standards. The book examines the possibility that these changes will drive down equity values.
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