Population ageing and consumption demand in Belgium
AbstractThis paper analyses the effect of population ageing on consumptions aggregates in Belgium. Since consumption expenditures change markedly over the life-cycle, the structure of aggregate consumption is likely to change in the course of population ageing. First, we estimate the effect of age on expenditures for 10 composite goods coming from household’s surveys. This is done using a pseudo-panel method. Second, age-specific profiles are used to forecast composition of consumption until 2050. The results point to increases in health, housing and leisure expenditures and decreases in equipment, clothing and transport expenditures. These changes are relatively moderate but non negligible. They will translate in sectoral shifts and most probably in changes in sectoral employment.
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Bibliographic InfoPaper provided by Centre de Recherche en Economie Publique et de la Population (CREPP) (Research Center on Public and Population Economics) HEC-Management School, University of Liège in its series CREPP Working Papers with number 0604.
Date of creation: 2006
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Consumption; demographic ageing; projections.;
Find related papers by JEL classification:
- D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
- E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
- J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-04-09 (All new papers)
- NEP-FOR-2007-04-09 (Forecasting)
- NEP-MAC-2007-04-09 (Macroeconomics)
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- Biljana Radivojević & Petar Vasić, 2012. "Household Age Structure And Consumption In Serbia," Economic Annals, Faculty of Economics, University of Belgrade, vol. 57(195), pages 79-102, October -.
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