Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/107146
Authors: 
Kuhn, Michael
Prettner, Klaus
Year of Publication: 
2015
Series/Report no.: 
ECON WPS - Vienna University of Technology Working Papers in Economic Theory and Policy 01/2015
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.
Subjects: 
demography
economic growth
generational turnover
National Transfer Accounts
JEL: 
E21
J11
O40
Document Type: 
Working Paper

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