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According to the life-cycle hypothesis, elderly households use their wealth to sustain consumption as their income declines in retirement. They save during their working years and use up accumulated assets in old age, flattening the marginal utility
The future of South Korea is expected to be an era where one working-age individual supports one elderly person. Population aging will impact the economy in various ways, including changes in household asset ownership and composition. Classical econo...
The global foreign exchange (FX) market, the largest among global financial markets, has traditionally relied on major banks as primary liquidity providers. However, since the late 1990s, rapid advancements in FX trading infrastructure, spurred by th...
This report analyzes the long-run causal relationship between the stock market and economic growth in OECD countries, including South Korea. Using stock market size, depth, liquidity indicators, and a vector error correction model, this report estima...