Age structure effects and consumption in the V4 countries
Identifikátory výsledku
Kód výsledku v 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>
Výsledek na webu
<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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Alternativní jazyky
Jazyk výsledku
angličtina
Název v původním jazyce
Age structure effects and consumption in the V4 countries
Popis výsledku v původním jazyce
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).
Název v anglickém jazyce
Age structure effects and consumption in the V4 countries
Popis výsledku anglicky
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).
Klasifikace
Druh
D - Stať ve sborníku
CEP obor
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OECD FORD obor
50202 - Applied Economics, Econometrics
Návaznosti výsledku
Projekt
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Návaznosti
S - Specificky vyzkum na vysokych skolach
Ostatní
Rok uplatnění
2018
Kód důvěrnosti údajů
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Údaje specifické pro druh výsledku
Název statě ve sborníku
Mathematical Methods in Economics 2018: Conference Proceedings
ISBN
978-80-7378-372-3
ISSN
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e-ISSN
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Počet stran výsledku
5
Strana od-do
49-53
Název nakladatele
MatfyzPress
Místo vydání
Praha
Místo konání akce
Jindřichův Hradec
Datum konání akce
12. 9. 2018
Typ akce podle státní příslušnosti
EUR - Evropská akce
Kód UT WoS článku
000507455300009