More Gray, More Volatile? Aging and (Optimal) Monetary Policy

More Gray, More Volatile? Aging and (Optimal) Monetary Policy
The evidence on the inflation impact of aging is mixed, and there is no evidence regarding the volatility of inflation. Based on advanced economies’ data and a DSGE-OLG model, we find that aging leads to downward pressure on inflation and higher inflation volatility. Our paper is also the first, using this framework, to discuss how aging affects... READ MORE...

Publication date: September 2019
ISBN 9781513509082
$18.00

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