01714cas a2200253 a 4500 AALejournalIMF017274 230101c9999 xx r poo 0 0eng d 5.00 USD 9781475559712 1018-5941 BD-DhAAL BD-DhAAL Westelius, Niklas. The Impact of Demographics on Productivity and Inflation in Japan / Niklas Westelius, Yihan Liu. Washington, D.C. : International Monetary Fund, 2016. 1 online resource (18 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Is Japan's aging and, more recently, declining population hampering growth and reflation efforts? Exploiting demographic and economic variation in prefectural data between 1990 and 2007, we find that aging of the working age population has had a significant negative impact on total factor productivity. Moreover, prefectures that aged at a faster pace experienced lower overall inflation, while prefectures with higher population growth experienced higher inflation. The results give strong support to the notion that demographic headwinds can have a non-trivial impact on total factor productivity and deflationary pressures. Mode of access: Internet Liu, Yihan. IMF Working Papers; Working Paper ; No. 2016/237 Full text available on IMF http://elibrary.imf.org/view/journals/001/2016/237/001.2016.issue-237-en.xml IMF e-Library