Population Aging and Structural Transformation

Javier Cravino, Andrei Levchenko and Marco Rojas

No 26327, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: We quantify the role of population aging in the structural transformation process. Household-level data from the U.S. show that the fraction of expenditures devoted to services increases with household age. We use a shift-share decomposition and a quantitative model to show that U.S. population aging accounted for about a fifth of the observed increase in the service share in consumption between 1982 and 2016. The contribution of population aging to the rise in the service share is about the same size as the contribution of real income growth, and about half as large as that of changes in relative prices.

JEL-codes: E2 O1 O4 (search for similar items in EconPapers)
Date: 2019-09
New Economics Papers: this item is included in nep-age, nep-dem and nep-mac
Note: AG DEV EFG EH PR
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Published as Javier Cravino & Andrei Levchenko & Marco Rojas, 2022. "Population Aging and Structural Transformation," American Economic Journal: Macroeconomics, vol 14(4), pages 479-498.

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Journal Article: Population Aging and Structural Transformation (2022)
Working Paper: Population aging and structural transformation (2019)
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