THE IMPACT OF POPULATION AGEING ON HOUSEHOLD PORTFOLIOS AND ASSET RETURNS

The objective of this chapter is to present the evolution of the literature on household portfolios and its research perspectives. The final aim is to highlight the modelling requirements necessary to analyse the impact of population ageing on household portfolios, and ultimately on asset returns, with special focus on the financial segment of the portfolios. Recent demographic trends have given impetus to the literature with contributions that are diversified according to the approach (theoretical and/or empirical) and the perspective taken (micro vs. macro).