BIS paper analyses demographic influence on money supply

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A Bank for International Settlements (BIS) working paper, published on September 3, warns of the inflationary impact baby boomers can have on a country's money supply.

The authors, Kiyohiko Nishimura and Elod Takats, warn the shrinking of working-age populations in many advanced economies will create inflationary pressures.

When baby boomers retire it represents a decrease in the demand for money, which in an economy with a fixed money supply decreases the price of real money holdings, the

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