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Economic Impacts of Ageing: An Interindustry Approach

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  • Paula C. Albuquerque
  • João C. Lopes

Abstract

Purpose - The purpose of this paper is to quantify the impact of the evolution of consumption patterns associated with ageing on the relative importance of industries in Portugal. Design/Methodology/Approach - This paper uses data from the Family Spending Survey to disaggregate the Household column of the Portuguese Input-Output Table in different age groups, projecting their consumption, using the latest demographic projections made by Statistics Portugal (INE). Findings - The study identifies the industries that are likely to be stimulated by the ageing of the Portuguese populations, as well as the industries that will most likely become disadvantaged by the process. Social implications - The task of identification of growing and declining industries due to ageing is important to help the design of employment, environmental, and social policies. Original/Value - The contemporary demographic trends in western societies have added to the importance of studying the economic and social consequences of ageing. Previously, the main issues have been the labour market effects, the sustainability of social security systems, and long-term care. In this paper, we address a different research topic, quantifying the sectoral impact of the evolution of consumption patterns associated with ageing.

Suggested Citation

  • Paula C. Albuquerque & João C. Lopes, 2010. "Economic Impacts of Ageing: An Interindustry Approach," Working Papers Department of Economics 2010/01, ISEG - Lisbon School of Economics and Management, Department of Economics, Universidade de Lisboa.
  • Handle: RePEc:ise:isegwp:wp12010
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    References listed on IDEAS

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    1. Tim Dowd & Ralph Monaco & Jeffry Janoska, 1998. "Effects of Future Demographic Changes on the US Economy: Evidence from a Long-term Simulation Model," Economic Systems Research, Taylor & Francis Journals, vol. 10(3), pages 239-262.
    2. Miles, David, 1999. "Modelling the Impact of Demographic Change upon the Economy," Economic Journal, Royal Economic Society, vol. 109(452), pages 1-36, January.
    3. David N. Weil, 2006. "Population Aging," NBER Working Papers 12147, National Bureau of Economic Research, Inc.
    4. Axel Börsch-Supan, 2003. "Labor Market Effects of Population Aging," LABOUR, CEIS, vol. 17(SpecialIs), pages 5-44, August.
    5. Frank T. Denton & Byron G. Spencer, 1999. "Population Aging and Its Economic Costs: A Survey of the Issues and Evidence," Social and Economic Dimensions of an Aging Population Research Papers 1, McMaster University.
    6. Martins, Pedro S. & Novo, Alvaro A. & Portugal, Pedro, 2009. "Increasing the Legal Retirement Age: The Impact on Wages, Worker Flows and Firm Performance," IZA Discussion Papers 4187, Institute for the Study of Labor (IZA).
    7. Kronenberg, Tobias, 2009. "The impact of demographic change on energy use and greenhouse gas emissions in Germany," Ecological Economics, Elsevier, vol. 68(10), pages 2637-2645, August.
    8. J.H.L. Dewhurst, 2006. "Estimating The Effect Of Projected Household Composition Change On Production In Scotland," Dundee Discussion Papers in Economics 186, Economic Studies, University of Dundee.
    9. William Poole & David C. Wheelock, 2005. "The real population problem: too few working, too many retired," The Regional Economist, Federal Reserve Bank of St. Louis, issue Apr, pages 4-9.
    10. Fertig, Michael & Schmidt, Christoph M., 2003. "Gerontocracy in Motion? - European Cross-Country Evidence on the Labor Market Consequences of Population Ageing," RWI Discussion Papers 8, RWI - Leibniz-Institut für Wirtschaftsforschung.
    11. Frank T. Denton & Dean C. Mountain & Byron G. Spencer, 2002. "Age, Retirement and Expenditure Patterns: An Econometric Study of Older Canadian Households," Quantitative Studies in Economics and Population Research Reports 375, McMaster University.
    12. Fougere, Maxime & Mercenier, Jean & Merette, Marcel, 2007. "A sectoral and occupational analysis of population ageing in Canada using a dynamic CGE overlapping generations model," Economic Modelling, Elsevier, vol. 24(4), pages 690-711, July.
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    Cited by:

    1. Maurizio Bussolo & Johannes Koettl & Emily Sinnott, 2015. "Golden Aging," World Bank Publications, The World Bank, number 22018, December.
    2. repec:vul:omefvu:v:8:y:2017:i:1:id:216 is not listed on IDEAS
    3. João Carlos Lopes & Paula Cristina Albuquerque, 2012. "The characteristics and regional distribution of older workers in Portugal," Working Papers Department of Economics 2012/22, ISEG - Lisbon School of Economics and Management, Department of Economics, Universidade de Lisboa.

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    Keywords

    Ageing; Input-output; Consumption behaviour.;

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