Atlantic Economic Journal

, Volume 10, Issue 2, pp 23–30 | Cite as

On demographic aging, inflation, and real wages: Some evidence from the Netherlands

  • William J. Serow


The findings of this paper suggest that when allowance is made for the potential impact of low fertility on relative price levels, the emergence of a state of sustained population decline might lead to levels of economic well-being which are declining both absolutely and relative to populations experiencing moderate growth. Such a conclusion emerges only after the passage of some 30 years; prior to this time span, conventional results (slower population growth yielding faster income growth) are confirmed. The result is attributable to a considerable scarcity of labor, resulting from fundamental changes in the ratio of workers to (older) dependents.


Population Growth Time Span International Economic Public Finance Price Level 
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Copyright information

© Atlantic Economic Society 1982

Authors and Affiliations

  • William J. Serow
    • 1
  1. 1.Florida State UniversityUSA

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