Consequently, the PSV asset price inflation rate is: PSV Asset Price Inflation Rate = (Ratio of the Young to the Old Population) – 1 This model is admittedly simplistic: specifically, it is stripped of consumption and saving decisions (optimization), capital stocks (including human capital), and technological progress. More realistic models may bring smoother generational consumption/ rate-of-return paths through capital stock formation, and so on4.
The only use of electronic technology that increased with age was direct deposit, a reflection of the importance of the direct deposit of Social Security payments. On balance, these results suggested that, in 1995, the potential market for relatively new electronic banking products was highly specialized. Since 1995 the world of electronic banking has certainly changed. But how much has it changed?