A popular argument — the "asset market meltdown" of the 1990s, revived as the "great demographic reversal" — holds that once the old start running down their savings, aging will push interest rates …
PublishedJournal of Money, Credit and BankingOnline 26 Nov 2025Published Dec 2025
Using 2001-2022 annual data on U.S. commercial and savings banks matched with county-level demographic data, this paper shows that banks operating in areas with older populations—measured by the …