Population Structure and Consumption Growth: Evidence from National Transfer Accounts

Michael Kuhn and Klaus Prettner

No 1503, VID Working Papers from Vienna Institute of Demography (VID) of the Austrian Academy of Sciences in Vienna

Abstract: We assess the impact of population structure on economic growth. Following recent research, we focus on the generational turnover as a key driver of consumption growth. We characterize the impact of the average birth and death rates on the generational turnover, depending on the age-profile of consumption and on the extent of annuity market imperfection. Using recent data from the National Transfer Accounts on consumption profiles for a number of countries, we assess in a comparative way the sign and magnitude of generational turnover and its impact on consumption growth. We find considerable cross-country variation and trace it back to differences in demographic rates and in the consumption structure.

Keywords: Demography; Economic Growth; Generational Turnover; National Transfer Accounts. (search for similar items in EconPapers)
Pages: 14 pages
Date: 2015-01
New Economics Papers: this item is included in nep-gro
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Citations: View citations in EconPapers (3)

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Working Paper: Population structure and consumption growth: Evidence from National Transfer Accounts (2015)
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Persistent link: https://EconPapers.repec.org/RePEc:vid:wpaper:1503

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