Age structure effects and consumption in the V4 countries
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62156489%3A43110%2F18%3A43913961" target="_blank" >RIV/62156489:43110/18:43913961 - isvavai.cz</a>
Result on the web
<a href="https://mme2018.fm.vse.cz/wp-content/uploads/2018/09/MME2018-Electronic_proceedings.pdf" target="_blank" >https://mme2018.fm.vse.cz/wp-content/uploads/2018/09/MME2018-Electronic_proceedings.pdf</a>
DOI - Digital Object Identifier
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Alternative languages
Result language
angličtina
Original language name
Age structure effects and consumption in the V4 countries
Original language description
In this paper, the effects of a changing age distribution on aggregate consumption are analysed empirically. Growth in the number of older persons is a global phenomenon and do not omit countries of the Visegrad Group (V4). The analysis is done by estimating consumption functions of V4 countries which controls for age structure effects. The Life-Cycle Hypothesis posits that the main motivation for borrowing and saving is to smooth the consumption during different phases of people's life. Modigliani and his collaborators claim that individuals' consumption and saving behaviour are functions of their age; an individual borrows as young, saves as middle-aged and dissaves when old. Cross-country regressions regularly find that propensity to consume is higher when the population share of the elderly and children is high. The 'dependency ratio', defined as the number of children and retired persons to those of working age, is used to represent changes in the age structure, time series are annual. Time series for the economic variables consumption, income and wealth are quarterly and they cover the period from 2002(1) to 2017(4).
Czech name
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Czech description
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Classification
Type
D - Article in proceedings
CEP classification
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OECD FORD branch
50202 - Applied Economics, Econometrics
Result continuities
Project
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Continuities
S - Specificky vyzkum na vysokych skolach
Others
Publication year
2018
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Article name in the collection
Mathematical Methods in Economics 2018: Conference Proceedings
ISBN
978-80-7378-372-3
ISSN
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e-ISSN
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Number of pages
5
Pages from-to
49-53
Publisher name
MatfyzPress
Place of publication
Praha
Event location
Jindřichův Hradec
Event date
Sep 12, 2018
Type of event by nationality
EUR - Evropská akce
UT code for WoS article
000507455300009