To the extent that demographic effects only affect the demand for stocks and do not affect the productivity of the economy, demographics have an effect only in the short term. (valuewalk.com)
To control for demographic effects, we take out groups that are often still in school (24 years and younger) or can potentially enter early retirement (55 and up). (canadianbusiness.com)
The more innovative studies (e.g., [13,14]-RRB- try to tackle the many potential confounding factors clouding the signal of selection, such as demographic effects (i.e., changes in population size and the influence of migration). (journals.plos.org)