Center for Strategic and International Studies
Significant Issues Series
Published May 2002
Foreword by Robert D. Hormats
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.
"I firmly believe that this book should be on any financial market practitioner's desk." -- Carlo de Benedetti
"This is a superb book. Read it! Take a look at the future that awaits us all." -- D. Don Ezra
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