@article{Pohnpattanapaisankul:338423,
      recid = {338423},
      author = {Pohnpattanapaisankul, Kumpon},
      title = {The Impact of Demographics on Inflation in Thailand},
      journal = {Applied Economics Journal},
      address = {2019-12},
      year = {2019},
      abstract = {Recently, Thailand has simultaneously experienced low  inflation rate and aging population. Is there a linkage  between these two variables as questioned by policy makers  and researchers in many countries?  The lower working age  population and a higher aged people ratio could  theoretically change economic agent’s behaviors such as  consumption, saving, and others affecting to the  macro-level economy and inflation pressures. This paper,  hence, tries to find the impact of demographic change on  inflation in Thailand from an empirical view. Based on the  overall CPI basket and its subcomponents over the sample  period 2001 to 2016, the results show that, in general, a  declining Thai working age population has a significant  deflationary impact. In contrast, in the case of housing  and furnishing inflation, the results suggest an  inflationary pressure. The findings support the view that  demographics are one of the structural factors that alter  the economic contexts and have implications on  macroeconomic policies in Thailand},
      url = {http://ageconsearch.umn.edu/record/338423},
      doi = {https://doi.org/10.22004/ag.econ.338423},
}