Population Aging and Structural Transformation

Autor:	Javier Cravino, Andrei Levchenko, Marco Rojas
Rok vydání:	2022
Předmět:	General Economics Econometrics and Finance
Zdroj:	American Economic Journal: Macroeconomics. 14:479-498
ISSN:	1945-7715 1945-7707
DOI:	10.1257/mac.20200371
Popis:	We quantify the role of population aging in the structural transformation process. Household-level data from the United States show that the fraction of expenditures devoted to services increases with household age. We use a shift-share decomposition and a quantitative model to show that US population aging accounted for about a fifth of the observed increase in the service share in consumption between 1982 and 2016. The contribution of population aging to the rise in the service share is about the same size as the contribution of real income growth and about half as large as that of changes in relative prices. (JEL D12, E21, E23, J11, J14)
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::1c469520b9fa50d8321cce16483a747e https://doi.org/10.1257/mac.20200371 Zobrazit plný text záznamu