Description: This report explores the impact on financial assets as baby boomers enter into retirement. The authors conducted a literature search and then a detailed analysis of two papers supporting the theory demographic factors can have an impact on asset prices.

Description: In this paper the researchers analyze pension plans for three countries (Canada, the UK, and the US) using an ESG that includes a demographic ratio that has been defined consistently for all countries. In that regard the paper extends the literature and opens areas for future research.