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Journal : Economic Development Analysis Journal

Youthful or Aged: Age Dependency and Inflation in ASEAN Countries Santoso, Teguh; Kharisma, Bayu; Arfita, Aurelia Puteri; Sapulette, Militcyano Samuel; Pratama, Bayu Rizky
Economics Development Analysis Journal Vol 13 No 1 (2024): Economics Development Analysis Journal
Publisher : Economics Development Department, Universitas Negeri Semarang, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/edaj.v13i1.75931

Abstract

There has been a growing interest to understand inflation through demographic lens using a critical key indicator known as the dependency ratio. However, studies investigating this nexus in terms of ASEAN nations are limited, despite ASEAN undergoing a demographic transition. Therefore, this paper aims to investigate the impact of age-population ratio on the inflation rate across 8 ASEAN countries during 2000-2020. This research uses Feasible Generalized Least Squares (FGLS) estimation, as it is robust to groupwise heteroskedasticity, serial and cross-sectional correlations. The result reveals that population aging is deflationary. However, the elderly dependence successfully explains the price dynamic after controlled by monetary and macro variables. It means that aging matters for inflation along with the macro variables dynamic. In addition, the analysis also sheds light on the impacts of the young dependency, which does not significantly impact the inflation rate when macro variables are taken into account. This research also underlines the importance of considering demographic dynamics in the future monetary policy decisions.
Co-Authors Abi Revyansah Perwira Adhitya Wardhana Adhitya Wardhana Adhitya Wardhana Adhitya Wardhana Adhitya Wardhana Adi Nugraha Aditya Lingga Adji Pratikto Agung, M. Nuh Ahmad Muhajirin Ainistikmalia, Nurin Al Fitra Ramadhan Aldo Febrari Hutabarat Alfiah Hasanah Alfian Massagony Amalia, Fira Andar Mochamad Zamzam Noor Andhika Dwi Saputra Anggana, Adrian Kevianta Anwar, Arfian Arfita, Aurelia Puteri Arsani, Ade Marsinta Asep Muhammad Adam Asep Muhhamad Adam Basuki, Urip Batti, Patrisia Bayu Rhamadani Wicaksono Bayu Rizky Pratama, Bayu Rizky Budiono Budiono Bugi Ario Cecep Suhayli Citra Triaryanti Desi Natalia Pardede, Desi Natalia Dita Selyna Sulandari Dwi Purnomo Dwikania, Keni Elan Satriawan Elim Yosi Lita Fathimah, Devi Irmayanti Fauziah, Nisa Rahmah Fauzy, M. Zidan Fauzy, Muhammad Zidan Ferry Hadiyanto Finny Redjeki Gartika, Ria Yessi Ghefiran Abdurrahimdzan Gunadi, Tiara Pangestika Gusnanda, Harvi Hadian Nur, Yudha Hadian, Yudha Hani Hanifah Hanifah, Hani Harisaputra, Loveandre Dwi Hazita, Facia Puspa Hendriani, Sarah Tresia Hidayat, Muhammad Thariq Hotma, Priscillya Hudaepah, Siti Ilyan, Meita Imaduddin, Fikrie Lazuardi Irene Olivia Salim Jumsaddin, Jumsaddin Karina, Devi Rizka Kodrat Wibowo Lincolin Arsyad M Dzaki Fahd Haekal Mahra Arari Heryanto Mohammad Naufal Faisal Sofyan Mohammad Zidan Fauzy Muhammad Syaiful Muhhamad Dzaki Fahd Muslima, Fahma Naimmatul Khairat Nugraha, Dani Nur, Yudha Hadian Nurul S. J. Nurvia, Silvitia Nindia Paruta, Garan Pasaribu, Haposan Indra Wesly Permana Rosiyan, Muhammad Bayu Prastiwi, Yunita Enggar Puspitarini, Arinda Wahyu Putri, Dini Ajani Qori’ah, Ribut Rahmawatin Rahmawatin Ramdani, Sandi Asep Ramdhani, Asrul Sugih Rezkia, Reni Ricky Abdillah Ridho Firdaus, Muhammad Riki Relaksana Ristiza, Chita Rizka Rachmawati Roseline, Herlina Rubianti Samsubar Saleh Sandi Asep Ramdani Sapulette, Militcyano Samuel Saputra, Erwin Aditya Sarah Annisa Noven Sewaminggi, Ayuka Pradina Ashara Primadipta Silvia Risti Silvia Risti Sofyan, Mohammad Naufal Faisal Solecha, Rizka Amalia Sutyastie S. Remi Sutyastie S. Remi Sutyastie S. Remi Sutyastie Soemitro Remi Sutyastie Soemitro Remi Sutyastie Soemitro Remi, Sutyastie Soemitro Syafira Nur Lathifah Syofia Sofatunisa Ramdayani Teguh - Santoso Teguh Santoso Teguh Santoso Teguh Santoso Teguh Santoso Tommy Perdana Tresna Lisdiyanti Ulandari, Fitri Dwi Usrah, Muhammad Jahyul Vita Nuraeiny Wawan Hermawan Wibiseno, Qisthio Wulan Agustina Triwardani Wulandari, Royani Yayuf Faridah Ibrahim Yosephine, Michel Kezia Yudha Hadian Nur Yudha Hadian Nur Yudistira, A. Muhammad Arya Yustisi, Mira Janu Zahra Ikhlasni Zakia, Shifa Zuldi, Muhamad Hafiz