New Study based on NTA Data
Wednesday, 18. March 2015 in Publications
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-pro le of consumption and on the extent of annuity market imperfection. Using recent data from the National Transfer Accounts on consumption pro les 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 nd considerable cross-country variation and trace it back to di erences in demographic rates and in the consumption structure. (Link to Paper)
Partners
This project has received funding from the European Union's Seventh Framework Programme for research, technological development and demonstration under grant agreement no 613247.