Several countries are concurrently experiencing historically low inflation rates and ageing populations. Is there a …-frequency inflation. In particular, a larger share of dependents (ie young and old) is correlated with higher inflation, while a larger … share of working age cohorts is correlated with lower inflation. The results are robust to different country samples, time …

, and an inflation process that has become quite insensitive to domestic slack, on the other. This two-pronged attack has …-tuning inflation and responds more systematically to the financial cycle …

. Potential output is seen as sustainable; yet experience indicates that output may be on an unsustainable path even if inflation …

inflation. We exploit cross-country variation in a long panel to identify age structure effects in inflation, controlling for … increases. This relationship accounts for the bulk of trend inflation, for instance, about 7 percentage points of US … disinflation since the 1980s. It predicts rising inflation over the coming decades …