The Impact of Demographics on Productivity and Inflation in Japan
2017 ◽
Vol 08
(02)
◽
pp. 1750008
◽
Keyword(s):
Is Japan’s aging and, more recently, declining population hampering its growth and reflation efforts? Exploiting the demographic and economic variation in the prefectural data between 1990 and 2007, we find that aging of the working age population has had a significant negative impact on the total factor productivity (TFP). Moreover, prefectures that aged at a faster pace experienced lower overall inflation, while prefectures with higher population growth experienced higher inflation. The results give strong support to the notion that demographic headwinds can have a non-trivial impact on the TFP and deflationary pressures.
Keyword(s):
2020 ◽
Vol 24
(4)
◽
pp. 524-531
2021 ◽
Vol 18
(22)
◽
pp. 11829
Keyword(s):
2020 ◽
Vol 14
(2)
◽
pp. 141-152