Demographic Blues

- "Significant changes in demographic trends are about to occur in the euro area, especially in those countries, like Ireland and Spain, where labour growth has been a key determinant of strong economic performance in the decade before the recession. Less room for rising labour force participation rates will probably also reduce the labour growth contribution to trend GDP growth."
- "More adverse demographic and labour market dynamics are likely to significantly reduce trend growth in these peripheral countries. And this may translate into an impact on aggregate euro area annual trend growth of ¼-½pp."

No comments:

Post a Comment