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220928 ||| eng |
| 020 |
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|a 9781484396230
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| 100 |
1 |
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|a Han, Fei
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| 245 |
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0 |
|a Demographics and the Natural Rate of Interest in Japan
|c Fei Han
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2019
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| 300 |
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|a 31 pages
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| 651 |
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4 |
|a Japan
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| 653 |
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|a Interest rates
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| 653 |
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|a Demographic Trends, Macroeconomic Effects, and Forecasts
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| 653 |
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|a Finance
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| 653 |
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|a Potential output
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| 653 |
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|a Return on investment
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| 653 |
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|a Dynamic Treatment Effect Models
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| 653 |
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|a Financial services
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| 653 |
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|a Production
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| 653 |
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|a Demographic transition
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| 653 |
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|a Intangible Capital
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| 653 |
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|a Production; Economic theory
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| 653 |
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|a National accounts
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| 653 |
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|a Time-Series Models
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| 653 |
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|a Population and demographics
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| 653 |
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|a Macroeconomics: Production
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| 653 |
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|a Demography
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| 653 |
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|a Population
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| 653 |
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|a Macroeconomics
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| 653 |
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|a Population & migration geography
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| 653 |
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|a Capacity
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| 653 |
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|a Demographic change
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| 653 |
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|a Capital
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| 653 |
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|a State Space Models
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| 653 |
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|a Bayesian Analysis: General
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| 653 |
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|a Population & demography
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| 653 |
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|a Investment
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| 653 |
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|a Demographic Economics: General
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| 653 |
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|a Real interest rates
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| 653 |
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|a Diffusion Processes
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| 653 |
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|a Population growth
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| 653 |
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|a Saving and investment
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| 653 |
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|a Banks and Banking
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| 653 |
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|a Investments: General
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| 653 |
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|a Interest Rates: Determination, Term Structure, and Effects
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| 653 |
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|a Dynamic Quantile Regressions
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| 653 |
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|a Monetary Policy
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| 653 |
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|a Production and Operations Management
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| 041 |
0 |
7 |
|a eng
|2 ISO 639-2
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| 989 |
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|b IMF
|a International Monetary Fund
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| 490 |
0 |
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|a IMF Working Papers
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| 028 |
5 |
0 |
|a 10.5089/9781484396230.001
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| 856 |
4 |
0 |
|u https://elibrary.imf.org/view/journals/001/2019/031/001.2019.issue-031-en.xml?cid=46550-com-dsp-marc
|x Verlag
|3 Volltext
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| 082 |
0 |
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|a 330
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| 520 |
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|a Japan’s aging and shrinking population could lower the natural rate of interest and, together with low inflation expectations, challenge the Bank of Japan’s efforts to reflate the economy. This paper uses a semi-structural model to estimate the impact of demographics on the natural rate in Japan. We find that demographic change has a significantly negative impact on the natural rate by lowering trend potential growth. We also find that the negative impact has been increasing over time amid stronger demographic headwinds. These findings highlight the importance of boosting potential growth to offset the negative demographic impact and lift the natural rate in Japan
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