Ageing population may boost inflation, BIS paper finds
Monetary policy-makers may need to take action on 'unconventional' result
Contrary to what many central bankers have argued in recent years, an ageing population may boost inflation, according to a working paper published yesterday by the Bank for International Settlements (BIS).
Researchers Mikael Juselius of the Bank of Finland and Előd Takáts of the BIS found a "U-shaped" relationship in the data, with a higher proportion of young people or old people contributing to higher inflation and a larger working-age population putting downward pressure on inflation. Their
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