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