Demographics and the Natural Rate of Interest in Japan

Demographics and the Natural Rate of Interest in Japan
Japan’s aging and shrinking population could lower the natural rate of interest and, together with low inflation expectations, challenge the Bank of Japan’s efforts to reflate the economy. This paper uses a semi-structural model to estimate the impact of demographics on the natural rate in Japan. We find that demographic change has a... READ MORE...

Publication date: February 2019
ISBN 9781484396230
$18.00

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