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Demographics mean the fall in interest rates is far from over
人口结构和不平等意味着低利率是长期趋势

In Japan, an ageing population has had an unexpected influence on inflation and wages
哈丁:日本人口老龄化为何没能推高工资、通胀和利率?一篇新论文指出,老龄化会拉低manbetx20客户端下载 增长,使投资需求以更大幅度下降,最终压低利率。

One of the great mysteries of Japan’s economy during the 2010s decade of “Abenomics” stimulus was why the rapid ageing of the population did not drive up wages for those of working age. With almost a third of the population aged 65 or above, went the theory, pensioners would surely start to run down their assets, first through spending on fancy meals out and trips to the golf course, then ultimately to pay for care as their health began to fail.

在2010年代的“安倍manbetx20客户端下载 学”(Abenomics)刺激计划中,日本manbetx20客户端下载 的最大谜团之一是,人口迅速老龄化为何没能推高劳动年龄人口的工资?按照这种理论,由于近三分之一的人口年龄在65岁或以上,领取养老金的人肯定会开始花掉自己的资产,先是把钱花在高档餐饮和高尔夫球场上,然后随着健康状况开始下降,他们最终会把钱花在护理上。

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