IDEAS home Printed from https://ideas.repec.org/p/fip/fedcsp/88.html
   My bibliography  Save this paper

Demographics and Their Implications for the Economy and Policy; 11.16.17; Cato Institute's 35th Annual Monetary Conference: The Future of Monetary Policy, Washington, DC

Author

Listed:
  • Loretta J. Mester

Abstract

As the economy has moved from financial crisis and the Great Recession to sustainable expansion, attention has shifted from cyclical aspects of the economy to structural factors. As policy has begun to normalize, the question has been raised: ?what is normal?? To answer such a question, we need to understand how the underlying fundamentals of the economy are evolving. A critical factor is demographics. Demographic change can influence the underlying growth rate of the economy, structural productivity growth, living standards, savings rates, consumption, and investment; it can influence the long-run unemployment rate and equilibrium interest rate, housing market trends, and the demand for financial assets. Moreover, differences in demographic trends across countries can be expected to influence current account balances and exchange rates. So to understand the global economy, it helps to understand changing demographics and the challenges they pose for monetary and fiscal policymakers.

Suggested Citation

  • Loretta J. Mester, 2017. "Demographics and Their Implications for the Economy and Policy; 11.16.17; Cato Institute's 35th Annual Monetary Conference: The Future of Monetary Policy, Washington, DC," Speech 88, Federal Reserve Bank of Cleveland.
    • Handle: RePEc:fip:fedcsp:88
    as

    Download full text from publisher

    File URL: https://www.clevelandfed.org/en/newsroom-and-events/speeches/sp-20171116-demographics-and-their-implications-for-the-economy-and-policy.aspx
    File Function: Full text
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Irina Gennadyevna Gerasimova & Irina Sergeevna Oblova & Ekaterina Ilinichna Golovina, 2021. "The Demographic Factor Impact on the Economics of the Arctic Region," Resources, MDPI, vol. 10(11), pages 1-16, November.

    More about this item

    Keywords

    demographics; labor markets; fiscal policy; monetary policy;
    All these keywords.

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fip:fedcsp:88. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: 4D Library (email available below). General contact details of provider: https://edirc.repec.org/data/frbclus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.