{
  "title": "Impact of Demographic Changes on Inflation and the Macroeconomy",
  "publication": "IMF Working Papers, November 24, 2014",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2016/12/31/impact-of-demographic-changes-on-inflation-and-the-macroeconomy-42463",
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  "summary": "The ongoing demographic changes will bring about a substantial shift in the size and the age composition of the population, which will have significant impact on the global economy.",
  "sections": [
    {
      "heading": "Overview",
      "content": "- Authors: Jong-Won Yoon, Jinill Kim, Jungjin Lee\n- Publication date: November 24, 2014\n- Type: IMF Working Paper (Working Paper No. 2014/210)\n- Pages: 31\n- Issue: 210\n- Volume: 2014\n- DOI: https://doi.org/10.5089/9781498396783.001\n- ISBN: 9781498396783\n- ISSN: 1018-5941\n- Preview citation (Chicago): Jong-Won Yoon, Jinill Kim, and Jungjin Lee. \"Impact of Demographic Changes on Inflation and the Macroeconomy\", IMF Working Papers 2014, 210 (2014), accessed 9/17/2026, https://doi.org/10.5089/9781498396783.001"
    },
    {
      "heading": "Core findings on demographic dynamics and macroeconomic variables",
      "content": "- Demographic changes will produce a substantial shift in both the size and the age composition of the population.\n- Such demographic shifts will have significant impacts on the global economy.\n- The paper analyzes empirically how demographic variables move over time and how they influence:\n  - economic growth\n  - inflation\n  - savings and investment\n  - fiscal balances\n- Empirical findings place particular emphasis on the relationship between demographics and inflation."
    },
    {
      "heading": "Implications for macroeconomic policy",
      "content": "- Based on empirical findings—particularly regarding inflation—the paper discusses implications for macroeconomic policies, including monetary policy.\n- The analysis highlights the importance of incorporating demographic dynamics when formulating macroeconomic policy decisions."
    },
    {
      "heading": "Policy recommendations and analytical emphasis",
      "content": "- Policy discussions should explicitly account for demographic variables given their potential to produce significant macroeconomic effects.\n- There is a need to consider interactions between population dynamics and macroeconomic variables in policy decision-making processes.\n\nImpact of Demographic Changes on Inflation and the Macroeconomy — IMF Working Paper No. 2014/210 by Jong-Won Yoon, Jinill Kim, and Jungjin Lee (November 24, 2014).\n\n---\n\n Content in this bundle\n\n- Wp14210\n  - Wp14210 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Wp14210 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/31/impact-of-demographic-changes-on-inflation-and-the-macroeconomy-42463"
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    "Authors: Jong-Won Yoon, Jinill Kim, Jungjin Lee",
    "Published: November 24, 2014",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781498396783.001",
    "Authors: Jong-Won Yoon, Jinill Kim, Jungjin Lee",
    "Publication date: November 24, 2014",
    "Type: IMF Working Paper (Working Paper No. 2014/210)",
    "Pages: 31",
    "Issue: 210",
    "Volume: 2014",
    "DOI: https://doi.org/10.5089/9781498396783.001",
    "ISBN: 9781498396783",
    "ISSN: 1018-5941",
    "Preview citation (Chicago): Jong-Won Yoon, Jinill Kim, and Jungjin Lee. \"Impact of Demographic Changes on Inflation and the Macroeconomy\", IMF Working Papers 2014, 210 (2014), accessed 9/17/2026, https://doi.org/10.5089/9781498396783.001",
    "Demographic changes will produce a substantial shift in both the size and the age composition of the population.",
    "Such demographic shifts will have significant impacts on the global economy.",
    "The paper analyzes empirically how demographic variables move over time and how they influence:",
    "Empirical findings place particular emphasis on the relationship between demographics and inflation.",
    "Based on empirical findings—particularly regarding inflation—the paper discusses implications for macroeconomic policies, including monetary policy.",
    "The analysis highlights the importance of incorporating demographic dynamics when formulating macroeconomic policy decisions.",
    "Policy discussions should explicitly account for demographic variables given their potential to produce significant macroeconomic effects.",
    "There is a need to consider interactions between population dynamics and macroeconomic variables in policy decision-making processes.",
    "**Wp14210**"
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