Impact of Demographic Changes on Inflation and the MacroeconomyImpact of Demographic Changes on Inflation and the Macroeconomy
- Other Titles
- Impact of Demographic Changes on Inflation and the Macroeconomy
- Authors
- 윤종원; 김진일; 이정진
- Issue Date
- 2018
- Keywords
- Demographic Changes; Population Aging; Inflation; Macroeconomic Impact; Savings and Investment; Monetary Policy; Fiscal Policy
- Citation
- KDI Journal of Economic Policy, v.40, no.1, pp.1 - 30
- Indexed
- KCI
- Journal Title
- KDI Journal of Economic Policy
- Volume
- 40
- Number
- 1
- Start Page
- 1
- End Page
- 30
- URI
- https://scholar.korea.ac.kr/handle/2021.sw.korea/80284
- DOI
- 10.23895/kdijep.2018.40.1.1
- ISSN
- 2586-2995
- Abstract
- Ongoing demographic changes have brought about a substantial shift in the size and age composition of the population, which are having a 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.
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Collections - College of Political Science & Economics > Department of Economics > 1. Journal Articles
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