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Ageing And Consumption – The Impact Of Demographic Change On Food Expenditure Patterns

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  • Anders, Sven

Abstract

Populations in most developed countries are ageing while fertility is declining. Policy makers and researchers expect this demographic shift to induce major shifts in most Western societies, economies and public policies. Moreover, changing requirements, demands and public health pressures (e.g. diabetes) of ageing populations are expected are likely to alter food expenditure patterns for various goods categories, including food products. The objective of this paper is to investigate to what extent household's food expenditure patterns shift around retirement age and what role changes in time use spend on home production play in this context. More specifically this paper reviews literature relevant to economic literature that has evolved around Modigliani and Brumberg's (1954) economic life-cycle hypothesis (LCH) based on the model of inter-temporal choice. Analysis of expenditure patterns using a recent sample of Canadian household-level scanner data reveal significant differences in meat product expenditure patterns and preferences between consumers of different age cohorts.

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Bibliographic Info

Paper provided by European Association of Agricultural Economists & Agricultural and Applied Economics Association in its series 115th Joint EAAE/AAEA Seminar, September 15-17, 2010, Freising-Weihenstephan, Germany with number 116442.

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Date of creation: 2010
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Handle: RePEc:ags:eaa115:116442

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Keywords: Life-cycle hypothesis; Retirement consumption puzzle; food expenditure; Canada; Agricultural and Food Policy; Consumer/Household Economics; Demand and Price Analysis; Food Consumption/Nutrition/Food Safety; Food Security and Poverty; Health Economics and Policy;

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  1. Angus Deaton & Christina Paxson, 1993. "Intertemporal Choice and Inequality," NBER Working Papers 4328, National Bureau of Economic Research, Inc.
  2. Angus Deaton & Christina Paxson, 2000. "Growth and Saving Among Individuals and Households," The Review of Economics and Statistics, MIT Press, vol. 82(2), pages 212-225, May.
  3. Blundell, Richard & Browning, Martin & Meghir, Costas, 1994. "Consumer Demand and the Life-Cycle Allocation of Household Expenditures," Review of Economic Studies, Wiley Blackwell, vol. 61(1), pages 57-80, January.
  4. Hamermesh, Daniel S, 1984. "Life-Cycle Effects on Consumption and Retirement," Journal of Labor Economics, University of Chicago Press, vol. 2(3), pages 353-70, July.
  5. B. Douglas Bernheim & Jonathan Skinner & Steven Weinberg, 2001. "What Accounts for the Variation in Retirement Wealth among U.S. Households?," American Economic Review, American Economic Association, vol. 91(4), pages 832-857, September.
  6. Banks, James & Blundell, Richard & Tanner, Sarah, 1998. "Is There a Retirement-Savings Puzzle?," American Economic Review, American Economic Association, vol. 88(4), pages 769-88, September.
  7. Michael D. Hurd & Susann Rohwedder, 2006. "Some Answers to the Retirement-Consumption Puzzle," NBER Working Papers 12057, National Bureau of Economic Research, Inc.
  8. Kevin Milligan, 2007. "The Evolution of Elderly Poverty in Canada," Social and Economic Dimensions of an Aging Population Research Papers 170, McMaster University.
  9. Fisher, Jonathan D. & Johnson, David S. & Marchand, Joseph & Smeeding, Timothy M. & Torrey, Barbara Boyle, 2008. "The retirement consumption conundrum: Evidence from a consumption survey," Economics Letters, Elsevier, vol. 99(3), pages 482-485, June.
  10. Kevin Milligan, 2004. "Life-Cycle Asset Accumulation and Allocation in Canada," NBER Working Papers 10860, National Bureau of Economic Research, Inc.
  11. Raffaele Miniaci & Chiara Monfardini & Guglielmo Weber, 2003. "Is there a retirement consumption puzzle in Italy?," IFS Working Papers W03/14, Institute for Fiscal Studies.
  12. John Laitner & Dan Silverman, 2005. "Estimating Life—Cycle Parameters from Consumption Behavior at Retirement”," Working Papers wp099, University of Michigan, Michigan Retirement Research Center.
  13. Jianmin Tang & Carolyn MacLeod, 2006. "Labour force ageing and productivity performance in Canada," Canadian Journal of Economics, Canadian Economics Association, vol. 39(2), pages 582-603, May.
  14. Denton, Frank T & Mountain, Dean C & Spencer, Byron G, 1999. "Age, Trend, and Cohort Effects in a Macro Model of Canadian Expenditure Patterns," Journal of Business & Economic Statistics, American Statistical Association, vol. 17(4), pages 430-43, October.
  15. Melvin Stephens, 2001. "The Long-Run Consumption Effects Of Earnings Shocks," The Review of Economics and Statistics, MIT Press, vol. 83(1), pages 28-36, February.
  16. Mori, Hiroshi & Lowe, Everett G., III & Clason, Dennis L. & Gorman, William D., 2000. "Cohort Analysis Of Food Consumption: A Case Of Rapidly Changing Japanese Consumption," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association (IAMA), vol. 3(02).
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