European Parliament Library

Impact of Demographic Changes on Inflation and the Macroeconomy, Jong-Won Yoon, Jinill Kim, Jungjin Lee

The ongoing demographic changes will bring about a substantial shift in the size and the age composition of the population, which will have significant impact on the global economy. Despite potentially grave consequences, demographic changes usually do not take center stage in many macroeconomic policy discussions or debates. This paper illustrates how demographic variables move over time and analyzes how they influence macroeconomic variables such as economic growth, inflation, savings and investment, and fiscal balances, from an empirical perspective. Based on empirical findings—particularly regarding inflation—we discuss their implications on macroeconomic policies, including monetary policy. We also highlight the need to consider the interactions between population dynamics and macroeconomic variables in macroeconomic policy decisions
Table Of Contents
Cover; Contents; I. Introduction; II. Description of Demographic Changes; Figures; 1. Total Fertility Rate (children per woman); 2. Total Fertility by Major Economies (children per woman); 3. Life Expectancy (years at birth); 4. Total Population Growth (in percent); 5. Working-Age Population Share of Total Population (in percent); 6. Dependency Ratios for Major Economies; III. Literature Review; IV. Empirical Findings; IV.1. Data and Methodology; IV.2. Macroeconomic Impact; Tables; 1. Demographic Impact on Growth of Real GDP per capita (PPP-based)
Literary Form
non fiction
Description based upon print version of record
Physical Description
1 online resource (32 p.)
Specific Material Designation
Form Of Item

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