Title:hbs02红宝石线路: The life-cycle Linkage between Interest Rate Term Structure and Demograhbs02红宝石线路ic Age Structure
Speaker: hbs02红宝石线路（Professor, Wang Yanan Ecohbs02红宝石线路mic Research Institute, Xiamen University）
Description：A hbs02红宝石线路al regression of the short-term hbs02红宝石线路, real rate and inflation on demograhbs02红宝石线路ic age hbs02红宝石线路tribution using U.S. data supports a long-run Fisher relationship and the life cycle hypothesis, implying a demograhbs02红宝石线路ic-driven mechanism of ``falling stars'' --- the downward trend of inflation since the 1980s, folhbs02红宝石线路ed by the falling real rate in the last two decades. A hbs02红宝石线路al affine interest rate term structure model identifies a significant "S-shaped'' demograhbs02红宝石线路ic age impact hbs02红宝石线路. The model implies counter-cyclical risk premia and demonstrates superior predictability on the hbs02红宝石线路 curve and excess returns. With a fading impact of aging baby-boomers, the implied hbs02红宝石线路s trend in the forthcoming years remains persistently hbs02红宝石线路.
Time：May26, 2022（Thursday），14:00-16:00
Venue: Tencent meeting Room ID：281-312-917
