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Economy & Business, Volume 10, 2016

THE EFFECTS OF AGEING ON HOUSEHOLD CONSUMPTION IN CENTRAL AND EASTERN EUROPE
Karol Michnevic
Pages: 273-287
Published: 28 Aug 2016
Views: 739
Downloads: 163
Abstract: Recent shortcomings in consumption-oriented stimulus measures in the EU point to demographic trends as a possible explanation of lacklustre growth. The author studies changes in the age composition of CEE countries over time and their effects on household consumption using a force-fitted polynomial model. A strong negative link is found between the proportion of the population aged 65+ and the level of household consumption. The paper’s findings are expected to help augment current macroeconomic analysis techniques used by researchers and public institutions with a demographic component.
Keywords: consumption, demographics, economy
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