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Demografik Göstergelerin Enflasyonla İlişkisi: Avrupa Birliği Örneği

Year 2021, Volume: 5 Issue: 3, 879 - 901, 18.09.2021
https://doi.org/10.25295/fsecon.945256

Abstract

AB ülkelerinin “baby boom” sonrası kadın başına düşen çocuk sayısı hızla azalmış ve günümüzde bu sayı nüfusun yenilenme düzeyinin altında seyretmiştir. Kadın başına çocuk sayısının azalması nedeniyle genç bağımlı nüfus ve çalışma çağındaki nüfus yapısı da etkilenmiştir. Bu süre zarfında bilim, teknoloji ve sağlık sistemindeki gelişmeler neticesinde ölüm oranları azalmış ve yaşlı bağımlı nüfus artmıştır. Doğum ve ölüm oranlarındaki azalışın demografik göstergelere yansıması toplam talep ve toplam arz aracılığıyla enflasyonu etkilemektedir.
Bu kapsamda çalışmada AB ülkelerinde 1996-2020 dönemine ait demografik göstergelerin enflasyon üzerinde etkisini test etmek için panel veri analizi yapılmıştır. Bağımlı değişken olarak enflasyon, bağımsız değişken olarak ise demografik göstergeler, GSYH ve işsizlik kullanılmıştır. Analiz sonucuna göre yaşlı bağımlı nüfusun, ekonomik büyümenin, işsizliğin, çalışma çağındaki nüfusun enflasyonu düşürdüğü, genç bağımlı nüfusun ve nüfus artış hızındaki artışın ise enflasyonu yükselttiği tespit edilmiştir.

References

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  • Andrews, D., Oberoi, J., Wirjanto, T. & Zhou, C. (2018). Demography and Inflation: An International Study. North American Actuarial Journal, 22(2), 210-222,
  • Ataç, B., (2009). Maliye Politikası, Ankara: Turhan Kitabevi, Gözden Geçirilmiş Sekizinci Baskı, 162-163.
  • Bavel, J. V., Reher, D.S. (2013). The Baby Boom and Its Causes: What We Need to Know, Population and Development Review, 39(2), 257.
  • Birinci, Y., (1989). Enflasyon, Para Politikası ve Stratejileri, İstanbul Üniversitesi İktisat Fakültesi Mecmuası, 47(1-40), 20
  • Bobeica, E., Lis, E., Nickel, C. & Sun, Y. (2017). Demographics and Inflation, ECB Working Paper, No. 2006, 1-24.
  • Borrallo,F., Parraga-Rodriguez, S., Perez, J. J. (2012). Taxatıon Challenges Of Populatıon Ageıng: Comparatıve Evıdence From The European Unıon, The Unıted States And Japan, Banco de Espana, Documentos Ocasionales No:2102, 12.
  • Broniatowska, P. (2019). Population Ageing and Inflation, Population Ageing, 12, 179-193.
  • Bulir, A. And Hurnik, J., (2006). The Maastricht Inflation Criterion: How Unpleasant Is Purgatory?, International Monetary Fund, Working Paper, 06/154, 3-4.
  • Dabrowski, M. (2019). The Economic and Monetary Union: Past, Present and Future, European Parliament, 7. https://www.europarl.europa.eu/cmsdata/159703/CASE_final%20publication.pdf.
  • Duarte, M., (2003). The Euro and Inflation Divergence in Europe, Federal Reserve Bank of Richmond Economic Quarterly, 89(3), 54-55.
  • European Commission. (2012). Ageing Europre, Eurostat, 8. Erişim adresi: https://ec.europa.eu/eurostat/documents/3217494/10166544/KS-02-19%E2%80%91681-EN-N.pdf/c701972f-6b4e-b432-57d2-91898ca94893
  • DeNederlandscheBank, (2016). Inflation in The Euro Area, Occasional Studies, 14(3), 29.
  • European Central Bank. (2014). ECB Monthly Bulletin, 5, 68, https://www.ecb.europa.eu/pub/pdf/other/mb201406_focus05.en.pdf.
  • European Parliamentary. (2021). Demographic Outlook for the European Union. European Parliamentary Research Service, 11-12. Erişim adresi: https://www.europarl.europa.eu/RegData/etudes/STUD/2021/690528/EPRS_STU(2021)690528_EN.pdf.
  • Eurostat. (2020). Population Structure and Ageing, 8. Erişim adres: https://ec.europa.eu/eurostat/statistics-explained/pdfscache/1271.pdf
  • Goldstein, J. R., Lee, r. D. (2020). Demographic perspectives on mortality of Covid-19 and other epidemics. NBER, Working Paper 27043, 2.
  • Han, G. (2019). Demographic Changes and Inflation Dynamics, Hong Kong Institute For Monetary Research, HKIMR Working Paper No:02/2019, 1-25.
  • Hauser, P. M. (1959). Demographic Indicator of Economic Development, Economic Development and Cultural Change, 7(2), 100-106.
  • İlgili, Ö. ve Gökçe Kutsal, Y. (2020). Impact of Covid-19 Among The Elderly Population, Turkısh Journal of Geriatrics, 23(4), 419.
  • Günaydın, D. (2018). Türkiye’nin Demografik Dönüşümü Çerçevesinde Yaşlanma Sorunu, Yaşlı Sorunları Araştırma Dergisi, 11(1), 5.
  • Jaffrı, A. A., Farrooq, F., Munır, F. (2016). Impact of Demographic Changes On Inflation In Pakıstan, Pakistan Economic and Social Review, 54(1), pp.1-14.
  • Jozwiak, J. ve Kotowska, I. E. (2008). Decreasing Birth Rates in Europe: Reasons and Remedies, European View, 7, 231.
  • Juselius, M., Takats, E., (2015). Can demography affect inflation and monetary policy?”, Bank For International Settlements, no. 485, 1-35, 2015. [Online] Available:https://www.bis.org/publ/work485.pdf
  • Kalkınma Bakanlığı, (2018). Enflasyonla Mücadele Özel İhtisas Komisyonu Raporu, Ankara: Kalkınma Bakanlığı, 4-5.
  • Kleiman, E. (1967). A Standardized Dependency Ratio, Demography, 4(2), 876-877.
  • Karatağ, H. ve Akyıldız, N. A. (2019). Avrupa’nın Demografik Dönüşümünde Uzun Dönem Yaşlı Bakımının Sürdürülebilirliğinin Değerlendirilmesi, Sosyal Politika Çalışmaları Dergisi, 19(44), 571-595.
  • Liu, Y. & Westelius, N. (2016). The Impact of Demographics on Productivity and Inflation in Japan, IMF Working Paper, WP/16/237, 1-17.
  • Manga, M., Cengiz, O. (2020). Türkiye’de Nüfus Yapısı ve Enflasyon İlişkisi, İstanbul Ticaret Üniversitesi Sosyal Bilimler Dergisi, Prof. Dr. Sabri Orman Özel Sayısı, 335-352.
  • OECD, Working Age Population, OECD Library, https://www.oecd-ilibrary.org/social-issues-migration-health/working-age-population/indicator/english_d339918b-en#:~:text=The%20working%20age%20population%20is,those%20aged%2015%20to%2064.
  • Papaioannou, G. (2004). The European Union in the 90’s. Fiscal Conditions and Concerns, European Research Studies, VII(3-4), 9.
  • Population Europe. (2020). Demography and The Coranavirus Pandemic, Erişim adresi: https://population-europe.eu/policy-brief/demography-and-coronavirus-pandemic.
  • Prskawetz, A., Fent, T., Barthel, w. (2007). The Relationship Between Demographic Change and Economic Growth in The EU, Institut für Demographie Vienna Institute of, 5, Erişim adresi: https://www.oeaw.ac.at/fileadmin/subsites/Institute/VID/PDF/Publications/Forschungsberichte/FB32.pdf
  • TCMB. (2013). Enflasyon ve Fiyat İstikrarı, Ankara: TCMB, 6-8.
  • United Nations. (1953). The Determinants and Consequences of Population Trends, Population Studies No:17, 47. https://www.un.org/development/desa/pd/sites/www.un.org.development.desa.pd/files/files/documents/2020/Jan/un_1953_determinantsandconsequencesofpopulationtrends_0.pdf
  • United Nations. (2011). Population Age Structure, United Nations Department of Economic and Social Affairs, 17, https://www.un.org/en/development/desa/population/publications/pdf/policy/WPP2011/Chapters/j_Ch_3_Population_Age_Structure.pdf.
  • Vlandas, T. (2016). The Impact of The Elderly on Inflation Rates In Developed Countries, London School Of Economics, Paper Series No. 107/2016, 1-45.
  • Yoon, J. W., Kim, J., Lee, J. (2014). Impact of Demographic Changes on Inflation and The Macroeconomy”, International Monetary Fund, no, 14/210, pp.1-23, https://www.imf.org/external/pubs/ft/wp/2014/wp14210.pdf

The Relationship Between Demographic Indicators and Inflation: The Example of the European Union

Year 2021, Volume: 5 Issue: 3, 879 - 901, 18.09.2021
https://doi.org/10.25295/fsecon.945256

Abstract

After the “baby boom” of EU countries, the number of children per woman decreased rapidly and today this number is below the replacement level of the population. Due to the decrease in the number of children per woman, the structure of the young dependent population and the working age population has also been affected. During this period, as a result of developments in science, technology and health system, mortality rates decreased and the elderly dependent population increased. The reflection of the decrease in birth and death rates on demographic indicators affects inflation through aggregate demand and aggregate supply.
In this context, panel data analysis was conducted to test the effect of demographic indicators for the period 1996-2020 on inflation in EU countries. Inflation was used as the dependent variable and demographic indicators, GDP and unemployment were used as the independent variables. According to the results of the analysis, it has been determined that the elderly dependent population, economic growth, unemployment, and the working age population reduce inflation, while the young dependent population and the increase in the population growth rate increase inflation.

References

  • Akyıldız, N. A. (2020). Evaluation of Elderly Population Policies in Development Plans in the Context of Social Sustainability, International Journal of Recent Advances in Multidisciplinary Research, 7(3), 5653-5661.
  • Andrews, D., Oberoi, J., Wirjanto, T. & Zhou, C. (2018). Demography and Inflation: An International Study. North American Actuarial Journal, 22(2), 210-222,
  • Ataç, B., (2009). Maliye Politikası, Ankara: Turhan Kitabevi, Gözden Geçirilmiş Sekizinci Baskı, 162-163.
  • Bavel, J. V., Reher, D.S. (2013). The Baby Boom and Its Causes: What We Need to Know, Population and Development Review, 39(2), 257.
  • Birinci, Y., (1989). Enflasyon, Para Politikası ve Stratejileri, İstanbul Üniversitesi İktisat Fakültesi Mecmuası, 47(1-40), 20
  • Bobeica, E., Lis, E., Nickel, C. & Sun, Y. (2017). Demographics and Inflation, ECB Working Paper, No. 2006, 1-24.
  • Borrallo,F., Parraga-Rodriguez, S., Perez, J. J. (2012). Taxatıon Challenges Of Populatıon Ageıng: Comparatıve Evıdence From The European Unıon, The Unıted States And Japan, Banco de Espana, Documentos Ocasionales No:2102, 12.
  • Broniatowska, P. (2019). Population Ageing and Inflation, Population Ageing, 12, 179-193.
  • Bulir, A. And Hurnik, J., (2006). The Maastricht Inflation Criterion: How Unpleasant Is Purgatory?, International Monetary Fund, Working Paper, 06/154, 3-4.
  • Dabrowski, M. (2019). The Economic and Monetary Union: Past, Present and Future, European Parliament, 7. https://www.europarl.europa.eu/cmsdata/159703/CASE_final%20publication.pdf.
  • Duarte, M., (2003). The Euro and Inflation Divergence in Europe, Federal Reserve Bank of Richmond Economic Quarterly, 89(3), 54-55.
  • European Commission. (2012). Ageing Europre, Eurostat, 8. Erişim adresi: https://ec.europa.eu/eurostat/documents/3217494/10166544/KS-02-19%E2%80%91681-EN-N.pdf/c701972f-6b4e-b432-57d2-91898ca94893
  • DeNederlandscheBank, (2016). Inflation in The Euro Area, Occasional Studies, 14(3), 29.
  • European Central Bank. (2014). ECB Monthly Bulletin, 5, 68, https://www.ecb.europa.eu/pub/pdf/other/mb201406_focus05.en.pdf.
  • European Parliamentary. (2021). Demographic Outlook for the European Union. European Parliamentary Research Service, 11-12. Erişim adresi: https://www.europarl.europa.eu/RegData/etudes/STUD/2021/690528/EPRS_STU(2021)690528_EN.pdf.
  • Eurostat. (2020). Population Structure and Ageing, 8. Erişim adres: https://ec.europa.eu/eurostat/statistics-explained/pdfscache/1271.pdf
  • Goldstein, J. R., Lee, r. D. (2020). Demographic perspectives on mortality of Covid-19 and other epidemics. NBER, Working Paper 27043, 2.
  • Han, G. (2019). Demographic Changes and Inflation Dynamics, Hong Kong Institute For Monetary Research, HKIMR Working Paper No:02/2019, 1-25.
  • Hauser, P. M. (1959). Demographic Indicator of Economic Development, Economic Development and Cultural Change, 7(2), 100-106.
  • İlgili, Ö. ve Gökçe Kutsal, Y. (2020). Impact of Covid-19 Among The Elderly Population, Turkısh Journal of Geriatrics, 23(4), 419.
  • Günaydın, D. (2018). Türkiye’nin Demografik Dönüşümü Çerçevesinde Yaşlanma Sorunu, Yaşlı Sorunları Araştırma Dergisi, 11(1), 5.
  • Jaffrı, A. A., Farrooq, F., Munır, F. (2016). Impact of Demographic Changes On Inflation In Pakıstan, Pakistan Economic and Social Review, 54(1), pp.1-14.
  • Jozwiak, J. ve Kotowska, I. E. (2008). Decreasing Birth Rates in Europe: Reasons and Remedies, European View, 7, 231.
  • Juselius, M., Takats, E., (2015). Can demography affect inflation and monetary policy?”, Bank For International Settlements, no. 485, 1-35, 2015. [Online] Available:https://www.bis.org/publ/work485.pdf
  • Kalkınma Bakanlığı, (2018). Enflasyonla Mücadele Özel İhtisas Komisyonu Raporu, Ankara: Kalkınma Bakanlığı, 4-5.
  • Kleiman, E. (1967). A Standardized Dependency Ratio, Demography, 4(2), 876-877.
  • Karatağ, H. ve Akyıldız, N. A. (2019). Avrupa’nın Demografik Dönüşümünde Uzun Dönem Yaşlı Bakımının Sürdürülebilirliğinin Değerlendirilmesi, Sosyal Politika Çalışmaları Dergisi, 19(44), 571-595.
  • Liu, Y. & Westelius, N. (2016). The Impact of Demographics on Productivity and Inflation in Japan, IMF Working Paper, WP/16/237, 1-17.
  • Manga, M., Cengiz, O. (2020). Türkiye’de Nüfus Yapısı ve Enflasyon İlişkisi, İstanbul Ticaret Üniversitesi Sosyal Bilimler Dergisi, Prof. Dr. Sabri Orman Özel Sayısı, 335-352.
  • OECD, Working Age Population, OECD Library, https://www.oecd-ilibrary.org/social-issues-migration-health/working-age-population/indicator/english_d339918b-en#:~:text=The%20working%20age%20population%20is,those%20aged%2015%20to%2064.
  • Papaioannou, G. (2004). The European Union in the 90’s. Fiscal Conditions and Concerns, European Research Studies, VII(3-4), 9.
  • Population Europe. (2020). Demography and The Coranavirus Pandemic, Erişim adresi: https://population-europe.eu/policy-brief/demography-and-coronavirus-pandemic.
  • Prskawetz, A., Fent, T., Barthel, w. (2007). The Relationship Between Demographic Change and Economic Growth in The EU, Institut für Demographie Vienna Institute of, 5, Erişim adresi: https://www.oeaw.ac.at/fileadmin/subsites/Institute/VID/PDF/Publications/Forschungsberichte/FB32.pdf
  • TCMB. (2013). Enflasyon ve Fiyat İstikrarı, Ankara: TCMB, 6-8.
  • United Nations. (1953). The Determinants and Consequences of Population Trends, Population Studies No:17, 47. https://www.un.org/development/desa/pd/sites/www.un.org.development.desa.pd/files/files/documents/2020/Jan/un_1953_determinantsandconsequencesofpopulationtrends_0.pdf
  • United Nations. (2011). Population Age Structure, United Nations Department of Economic and Social Affairs, 17, https://www.un.org/en/development/desa/population/publications/pdf/policy/WPP2011/Chapters/j_Ch_3_Population_Age_Structure.pdf.
  • Vlandas, T. (2016). The Impact of The Elderly on Inflation Rates In Developed Countries, London School Of Economics, Paper Series No. 107/2016, 1-45.
  • Yoon, J. W., Kim, J., Lee, J. (2014). Impact of Demographic Changes on Inflation and The Macroeconomy”, International Monetary Fund, no, 14/210, pp.1-23, https://www.imf.org/external/pubs/ft/wp/2014/wp14210.pdf
There are 38 citations in total.

Details

Primary Language Turkish
Journal Section Articles
Authors

Emin Ahmet Kaplan 0000-0002-4808-8529

Neslihan Burgaz 0000-0001-8301-2792

Publication Date September 18, 2021
Published in Issue Year 2021 Volume: 5 Issue: 3

Cite

APA Kaplan, E. A., & Burgaz, N. (2021). Demografik Göstergelerin Enflasyonla İlişkisi: Avrupa Birliği Örneği. Fiscaoeconomia, 5(3), 879-901. https://doi.org/10.25295/fsecon.945256

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