Does population ageing impact inflation?

Main Article Content

Marija Radulović
Milan Kostić
https://orcid.org/0000-0003-2883-1474

Abstract

Modern society is characterised by clear and distinct demographic processes, such as the constant decline in the number of children born and the ageing population in developed countries, resulting from complex biological, economic, social, political, and other factors. Demographic changes observed through population ageing have an impact on the economy and inflation. Therefore, the aim of this  paper is to examine the impact of population ageing on inflation in Economic and Monetary Union (EMU) countries. The paper’s authors used data from 1970 to 2016. The ARDL approach was used to test the long- and short-term relationship between population ageing and inflation. The results showed a positive relationship between population ageing and inflation in the long term and a negative relationship in the short term. The ageing population decreases inflation in the short term and increases inflation in the long term.

Downloads

Download data is not yet available.

Article Details

How to Cite
Radulović, M., & Kostić, M. (2021). Does population ageing impact inflation?. Stanovnistvo, 59(2), 107–122. https://doi.org/10.2298/STNV2102107R
Section
Articles
Author Biographies

Marija Radulović, Faculty of Economics, University of Kragujevac, Kragujevac (Serbia)

PhD Candidate

Milan Kostić, Faculty of Economics, University of Kragujevac, Kragujevac (Serbia)

Associate Professor