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Title: |
Population age structure and private consumption in Spain |
| Author: |
Equia, Begoña; Echevarria, Cruz A. |
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Affiliation: |
Universidad del Pais Vasco, Bilbao, Spain |
| Source: |
International Economic Journal, September 2004, v. 18, no. 3, pp. 297-317 |
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Publication Date: |
September 2004 |
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Abstract: |
In this paper we study the effect of population age distribution upon private consumption expenditure in Spain from 1964 to 1997 using aggregate data. We obtain four main results. First, changes in the population pyramid have substantial effects upon the behaviour of private consumption. Second, the pattern of the coefficients of the demographic variables is not consistent with the simplest version of the life cycle hypothesis. Third, we estimate the impact of the demographic which the shares of groups of individuals with expenditure levels higher (lower) than the mean increased (decreased). Fourth, the results are robust to alternative specifcations for the population age distribution. |
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