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Demographics and Interest Rates in Asia

2018-07-27 Social Science
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Release : 2018-07-27
Genre : Social Science
Kind : eBook
Book Rating : 309/5 ( reviews)

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Book Synopsis Demographics and Interest Rates in Asia by : Mr.Serkan Arslanalp

Download or read book Demographics and Interest Rates in Asia written by Mr.Serkan Arslanalp. This book was released on 2018-07-27. Available in PDF, EPUB and Kindle. Book excerpt: Demographic developments have been regarded as one important cause of the long-term movement in global interest rates. This paper provides empirical evidence of the relationship between demographics and interest rates over a wide sample of advanced and emerging market economies. It also finds that capital account openness limits the direct sensitivity of a country’s interest rates to its own demographics. The results suggest that future demographic developments will continue to apply downward pressure on the interest rates in Asia which foresees a rapid aging.

Demographics and Interes Rates in Asia

2018
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Release : 2018
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Book Synopsis Demographics and Interes Rates in Asia by : Serkan Arslanalp

Download or read book Demographics and Interes Rates in Asia written by Serkan Arslanalp. This book was released on 2018. Available in PDF, EPUB and Kindle. Book excerpt: Demographic developments have been regarded as one important cause of the long-term movement in global interest rates. This paper provides empirical evidence of the relationship between demographics and interest rates over a wide sample of advanced and emerging market economies. It also finds that capital account openness limits the direct sensitivity of a country’s interest rates to its own demographics. The results suggest that future demographic developments will continue to apply downward pressure on the interest rates in Asia which foresees a rapid aging.

The Economic Consequences of Demographic Change in East Asia

2010-10-15 Business & Economics
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Release : 2010-10-15
Genre : Business & Economics
Kind : eBook
Book Rating : 880/5 ( reviews)

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Book Synopsis The Economic Consequences of Demographic Change in East Asia by : Takatoshi Ito

Download or read book The Economic Consequences of Demographic Change in East Asia written by Takatoshi Ito. This book was released on 2010-10-15. Available in PDF, EPUB and Kindle. Book excerpt: Recent studies show that almost all industrial countries have experienced dramatic decreases in both fertility and mortality rates. This situation has led to aging societies with economies that suffer from both a decline in the working population and a rise in fiscal deficits linked to increased government spending. East Asia exemplifies these trends, and this volume offers an in-depth look at how long-term demographic transitions have taken shape there and how they have affected the economy in the region. The Economic Consequences of Demographic Change in East Asia assembles a group of experts to explore such topics as comparative demographic change, population aging, the rising cost of health care, and specific policy concerns in individual countries. The volume provides an overview of economic growth in East Asia as well as more specific studies on Japan, Korea, China, and Hong Kong. Offering important insights into the causes and consequences of this transition, this book will benefit students, researchers, and policy makers focused on East Asia as well as anyone concerned with similar trends elsewhere in the world.

A Spectral Perspective on Natural Interest Rates in Asia-Pacific

2016
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Release : 2016
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Book Synopsis A Spectral Perspective on Natural Interest Rates in Asia-Pacific by : Feng Zhu

Download or read book A Spectral Perspective on Natural Interest Rates in Asia-Pacific written by Feng Zhu. This book was released on 2016. Available in PDF, EPUB and Kindle. Book excerpt: I study the evolution of the equilibrium real interest rate, also known as the natural or neutral interest rate, in Asia-Pacific. Simple estimates based on a statistical approach suggest that, except for China, and Thailand since 2005, the natural interest rate may have declined substantially in Asia-Pacific economies since the early or mid-1990s, by over 4 percentage points on average. In many economies the rate has turned negative. The tendency has become more accentuated in the 2000s, especially following the onset of the Global Financial Crisis. The natural interest rate appears to vary significantly over time and across economies. Nevertheless, simple natural interest rate estimates are unreliable, and large uncertainties and sizeable heterogeneity in the estimates of the equilibrium real interest rate call for caution as well as monetary policy rules which are robust to such uncertainties. I use frequency-domain techniques to examine the relationship between the long-run component of real interest rate and those of population characteristics, globalisation, and a range of macroeconomic and financial variables (eg credit and asset prices). I estimate spectral and cospectral densities, coherency and the frequency-specific coefficients of correlation and regression proposed by Zhu (2005). The association seems to be broad and strong between the natural interest rate and the low-frequency trend components of demographic and global factors in AsiaPacific, but weak between the natural interest rate and trends in asset prices, creditto-GDP ratio and trend growth in many economies in the region. In most cases, the natural interest rate seems to be correlated with broad measures of long-term financial sector development, and trends in savings rate and investment ratio. Understanding the underlying factors driving changes in each economy's natural interest rate is important for the correct calibration and implementation of monetary policy.Full Publication: 'http://ssrn.com/abstract=2861007' Expanding the Boundaries of Monetary Policy in Asia and the Pacific.

Understanding the Changing Equilibrium Real Interest Rates in Asia-Pacific

2016 Interest rates
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Release : 2016
Genre : Interest rates
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Book Synopsis Understanding the Changing Equilibrium Real Interest Rates in Asia-Pacific by : Feng Zhu

Download or read book Understanding the Changing Equilibrium Real Interest Rates in Asia-Pacific written by Feng Zhu. This book was released on 2016. Available in PDF, EPUB and Kindle. Book excerpt: "This paper studies the evolution of the equilibrium real interest rate (ie natural or neutral interest rate) in Asia-Pacific. The author takes an empirical approach to estimate the rate, simple estimates suggest that except for China, and Thailand since 2005, the natural interest rate may have declined substantially in Asian-Pacific economies since the early or mid-1990s, by over 4 percentage points on average. In many economies the rate has turned negative. The tendency has become more accentuated in the 2000s, especially since the onset of the global financial crisis. Yet simple natural interest rate estimates are unreliable, which vary significantly over time and across the economies."--Abstract.

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