Can demography affect inflation and monetary policy ? i Can demography affect inflation and monetary policy ? 1

@inproceedings{Juselius2015CanDA,
  title={Can demography affect inflation and monetary policy ? i Can demography affect inflation and monetary policy ? 1},
  author={Mikael Juselius and El and D. de Takats},
  year={2015}
}
Several countries are concurrently experiencing historically low inflation rates and ageing populations. Is there a connection, as recently suggested by some senior central bankers? We undertake a comprehensive test of this hypothesis in a panel of 22 countries over the 1955–2010 period. We find a stable and significant correlation between demography and low-frequency inflation. In particular, a larger share of dependents (ie young and old) is correlated with higher inflation, while a larger… CONTINUE READING

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