@techreport{NBERw4665,
 title = "The Consequences of Population Aging on Private Pension Fund Saving and Asset Markets",
 author = "Sylvester J. Schieber and John B. Shoven",
 institution = "National Bureau of Economic Research",
 type = "Working Paper",
 series = "Working Paper Series",
 number = "4665",
 year = "1994",
 month = "March",
 URL = "http://www.nber.org/papers/w4665",
 abstract = {This paper examines the impact of the aging demographic structure of the U.S. on its funded private pension system.  A 75-year outlook is produced for the pension system corresponding to the 75-year forecast of the Social Security system.  The primary result is that the pension system will cease being a source of national saving in the third decade of the next century.  The paper speculates about the impact this may have on asset prices.},
}