Organisation of households: Aging, savings and financialisation

Organisation of households: Aging, savings and financialisation Phuah Eng Chye (21 April 2018) Policy incoherence tends to increase with the aging of an economy. Specifically, as the number of retirees increase, policy focuses on incentivising savings to ensure individuals can accumulate sufficient savings for their retirement. But at the macro level, the challenge is the … “Organisation of households: Aging, savings and financialisation”

Read More

Organisation of households: Aging and financial cycles

Organisation of households: Aging and financial cycles Phuah Eng Chye (14 April 2018) It is unsurprising that there is a close relationship between aging and long-term financial cycles as a highly developed financial system is a prerequisite to achieving affluence. As economies become affluent and aging more pronounced, economic maturity sets in and sets off … “Organisation of households: Aging and financial cycles”

Read More

Organisation of households: Aging, depopulation and welfare costs

Organisation of households: Aging, depopulation and welfare costs Phuah Eng Chye (7 April 2018) In his report on “Future welfare and the ageing population”, Mårten Blix highlights that while much of the attention is focused on challenges from a rise in the dependency ratio, challenges arising from population movement from rural to urban areas and … “Organisation of households: Aging, depopulation and welfare costs”

Read More

Organisation of households: Aging, secular stagnation and population policies

Organisation of households: Aging, secular stagnation and population policies Phuah Eng Chye (31 March 2018) The hypothesis that changes in household structures increase labour market frictions[1] and weaken household and business formation[2] is consistent with secular stagnation theories on how aging dampens consumption, employment, productivity and production and exerts long-term downward pressure on economic growth … “Organisation of households: Aging, secular stagnation and population policies”

Read More

Organisation of households: Household formation and the housing market

Organisation of households: Household formation and the housing market Phuah Eng Chye (17 March 2018) Household formation has been the traditional force powering the housing market and economic growth. Derek Thompson observes “more formations is good news. It suggests more people getting jobs, getting apartments, getting married, having kids, and (in all likelihood) spending more … “Organisation of households: Household formation and the housing market”

Read More

Organisation of households: Shrinking households, labour market frictions and societal cultures

Organisation of households: Shrinking households, labour market frictions and societal cultures Phuah Eng Chye (10 March 2018) Economies face threats not only from demographic aging and rising dependency but also from the erosion of traditional family structures which are becoming more diverse in terms of relationships, race and beliefs. This is consistent with the transition … “Organisation of households: Shrinking households, labour market frictions and societal cultures”

Read More