Arbeitspapier
Population growth, the natural rate of interest, and inflation
Population growth rates have fallen considerably in most developed countries. An important question for monetary policy is whether this has led to a fall in the natural rate of interest. In representative agent models, the response of the natural rate to a fertility shock crucially depends on the preference parameter determining how households weight generations of different size. Estimating a medium-scale model of the US-economy featuring fertility shocks, I find that declining population growth has lowered both the natural rate and inflation by about 0.4 percentage points in recent decades.
- Sprache
-
Englisch
- Erschienen in
-
Series: Arbeitspapier ; No. 03/2019
- Klassifikation
-
Wirtschaft
Altruism; Philanthropy; Intergenerational Transfers
Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making‡
Price Level; Inflation; Deflation
Business Fluctuations; Cycles
Monetary Policy
Demographic Trends, Macroeconomic Effects, and Forecasts
- Thema
-
inflation
business cycles
monetary policy
natural rate of interest
demographic transition
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Weiske, Sebastian
- Ereignis
-
Veröffentlichung
- (wer)
-
Sachverständigenrat zur Begutachtung der Gesamtwirtschaftlichen Entwicklung
- (wo)
-
Wiesbaden
- (wann)
-
2019
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Weiske, Sebastian
- Sachverständigenrat zur Begutachtung der Gesamtwirtschaftlichen Entwicklung
Entstanden
- 2019
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