Access the full text.
Sign up today, get DeepDyve free for 14 days.
Loading next page...
/lp/world-scientific-publishing-company/the-impact-of-demographics-on-productivity-and-inflation-in-japan-LVvDXdfLU0
References (13)
-
A. Ciccone, R. Hall (1993)
Productivity and the Density of Economic ActivityIO: Productivity
-
Change in 40-year age group Annual TFP growth (FD) -
Crises yesterday and today. Remarks by Larry Summers at 14th Annual IMF Research Conference -
M. Juselius, E. Takáts (2015)
Can Demography Affect Inflation and Monetary Policy?ERN: Monetary Policy (Topic)
-
Derek Anderson, D. Botman, Benjamin Hunt (2014)
Is Japan's Population Aging Deflationary?Potchefstroom Electronic Law Journal
-
A. Ciccone (1999)
Agglomeration-Effects in EuropeEuropean Economics eJournal
-
K. Fukao, T. Makino, Joji Tokui (2015)
Regional Factor Inputs and Convergence in Japan: A macro-level analysis, 1955-2008 -
J. Bullard, Carlos Garriga, Christopher Waller (2012)
Demographics, Redistribution, and Optimal InflationCanadian Parliamentary Review, 94
-
James Feyrer (2002)
Demographics and ProductivityThe Review of Economics and Statistics, 89
-
(2010)
Age and Great Invention, -
Jong-won Yoon, Jinill Kim, Jungjin Lee (2014)
Impact of Demographic Changes on Inflation and the MacroeconomyKorea Development Institute (KDI) Research Paper Series
-
Ricardo Caballero, T. Hoshi, A. Kashyap (2006)
Zombie Lending and Depressed Restructuring in JapanIO: Empirical Studies of Firms & Markets
-
F. Machlup, A. Hansen (1939)
Full Recovery or StagnationJournal of the American Statistical Association, 34
- Publisher
- World Scientific Publishing Company
- ISSN
- 1793-9933
- eISSN
- 1793-9941
- DOI
- 10.1142/S1793993317500089
- Publisher site
- See Article on Publisher Site
Abstract
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.
Journal
Journal of International Commerce, Economics and Policy – World Scientific Publishing Company
Published: Jun 1, 2017