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...
Saved in:
| Main Author: | |
|---|---|
| Format: | Electronic eBook |
| Language: | English |
| Published: |
[Washington, D.C.] :
International Monetary Fund,
[2019]
|
| Series: | IMF working paper ;
WP/19/31. |
| Subjects: | |
| Online Access: | DE-862 DE-863 |
| Summary: | 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 significantly negative impact on the natural rate by lowering trend potential growth. We also find that the negative impact has been increasing over time amid stronger demographic headwinds. These findings highlight the importance of boosting potential growth to offset the negative demographic impact and lift the natural rate in Japan. |
| Physical Description: | 1 online resource |
| ISBN: | 1498301207 9781498301206 |
Staff View
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| geographic | Japan Population Economic aspects. Japan fast https://id.oclc.org/worldcat/entity/E39PBJkT7GyCmyjxytDfqk6Yfq |
| geographic_facet | Japan Population Economic aspects. Japan |
| id | ZDB-4-EBA-on1107361968 |
| illustrated | Not Illustrated |
| indexdate | 2025-04-11T08:46:57Z |
| institution | BVB |
| institution_GND | http://id.loc.gov/authorities/names/n81052755 |
| isbn | 1498301207 9781498301206 |
| language | English |
| oclc_num | 1107361968 |
| open_access_boolean | |
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| psigel | ZDB-4-EBA FWS_PDA_EBA ZDB-4-EBA |
| publishDate | 2019 |
| publishDateSearch | 2019 |
| publishDateSort | 2019 |
| publisher | International Monetary Fund, |
| record_format | marc |
| series | IMF working paper ; |
| series2 | IMF Working Paper ; |
| spelling | Han, Fei, author. Demographics and the Natural Rate of Interest in Japan / Mr. Fei Han. [Washington, D.C.] : International Monetary Fund, [2019] ©2019 1 online resource text txt rdacontent computer c rdamedia online resource cr rdacarrier IMF Working Paper ; WP/19/31 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 significantly negative impact on the natural rate by lowering trend potential growth. We also find that the negative impact has been increasing over time amid stronger demographic headwinds. These findings highlight the importance of boosting potential growth to offset the negative demographic impact and lift the natural rate in Japan. Online resource; title from PDF title page (IMF, viewed August 21, 2020). Age distribution (Demography) Economic aspects Japan. Aging Economic aspects Japan. Interest rates Japan. Japan Population Economic aspects. Répartition par âge (Démographie) Aspect économique Japon. Vieillissement Aspect économique Japon. Taux d'intérêt Japon. Age distribution (Demography) Economic aspects fast Aging Economic aspects fast Interest rates fast Population Economic aspects fast Japan fast https://id.oclc.org/worldcat/entity/E39PBJkT7GyCmyjxytDfqk6Yfq International Monetary Fund, issuing body. http://id.loc.gov/authorities/names/n81052755 1-4843-9623-5 IMF working paper ; WP/19/31. http://id.loc.gov/authorities/names/no89010263 |
| spellingShingle | Han, Fei Demographics and the Natural Rate of Interest in Japan / IMF working paper ; Age distribution (Demography) Economic aspects Japan. Aging Economic aspects Japan. Interest rates Japan. Répartition par âge (Démographie) Aspect économique Japon. Vieillissement Aspect économique Japon. Taux d'intérêt Japon. Age distribution (Demography) Economic aspects fast Aging Economic aspects fast Interest rates fast Population Economic aspects fast |
| title | Demographics and the Natural Rate of Interest in Japan / |
| title_auth | Demographics and the Natural Rate of Interest in Japan / |
| title_exact_search | Demographics and the Natural Rate of Interest in Japan / |
| title_full | Demographics and the Natural Rate of Interest in Japan / Mr. Fei Han. |
| title_fullStr | Demographics and the Natural Rate of Interest in Japan / Mr. Fei Han. |
| title_full_unstemmed | Demographics and the Natural Rate of Interest in Japan / Mr. Fei Han. |
| title_short | Demographics and the Natural Rate of Interest in Japan / |
| title_sort | demographics and the natural rate of interest in japan |
| topic | Age distribution (Demography) Economic aspects Japan. Aging Economic aspects Japan. Interest rates Japan. Répartition par âge (Démographie) Aspect économique Japon. Vieillissement Aspect économique Japon. Taux d'intérêt Japon. Age distribution (Demography) Economic aspects fast Aging Economic aspects fast Interest rates fast Population Economic aspects fast |
| topic_facet | Age distribution (Demography) Economic aspects Japan. Aging Economic aspects Japan. Interest rates Japan. Japan Population Economic aspects. Répartition par âge (Démographie) Aspect économique Japon. Vieillissement Aspect économique Japon. Taux d'intérêt Japon. Age distribution (Demography) Economic aspects Aging Economic aspects Interest rates Population Economic aspects Japan |
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