Business Excellence, Vol. 12 No. 2, 2018.
Review article
https://doi.org/10.22598/pi-be/2018.12.2.139
INFLUENCE OF DEMOGRAPHIC CHANGES ON MACROECONOMIC TRENDS
Zoran Miletić
orcid.org/0000-0001-9044-3275
; Sveučilište u Splitu, Split, Hrvatska
Abstract
Demographic changes will lead to important changes in the size and age structure of the population of the world, with emphasis on OECD countries, which will significantly influence the world economy. The paper attempts to show the changes in demographic variables over time and analyse their influence on macroeconomic variables such as GDP
per capita, current account of balance of payments, savings and investments, as well as on the fiscal policy variables such as the budget balance, income and expenditure. Based on empirical facts – especially as regards inflation – the paper discusses its influence on macroeconomic policy, including the monetary policy. Demographic changes act as one of the most important determinants of economic and social trends, therefore it is not surprising that there is great interest in researching their influence on macroeconomic results.
Keywords
demographic changes; investment; inflation; savings; fiscal policy
Hrčak ID:
215840
URI
Publication date:
20.12.2018.
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