The Influence of Age on Consumption
The Influence of Age on Consumption
The Influence of Age on Consumption
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gws Discussi<strong>on</strong> Paper 2012/x ISSN 1867-7290<br />
going into detail. While food and n<strong>on</strong>-alcoholic beverages (01, top right<br />
picture) loose importance with increasing age <str<strong>on</strong>g>of</str<strong>on</strong>g> the c<strong>on</strong>sumer, expenditures<br />
for health (06) gain importance in the later part <str<strong>on</strong>g>of</str<strong>on</strong>g> the life-cycle. When the<br />
c<strong>on</strong>sumer reaches 45 years or older the expenses for food and n<strong>on</strong>-alcoholic<br />
beverages (01) start to be negatively affected. An ageing society hence<br />
leads to a reducti<strong>on</strong> in that c<strong>on</strong>sumpti<strong>on</strong> purpose. With regard to health<br />
(06) a growing share <str<strong>on</strong>g>of</str<strong>on</strong>g> people aged 45 or older due to demographic change<br />
produces higher expenditures.<br />
<str<strong>on</strong>g>The</str<strong>on</strong>g> estimati<strong>on</strong> results c<strong>on</strong>firm the assumpti<strong>on</strong> that the c<strong>on</strong>sumer’s age<br />
matters for c<strong>on</strong>sumpti<strong>on</strong> expenditures. If the compositi<strong>on</strong> <str<strong>on</strong>g>of</str<strong>on</strong>g> the populati<strong>on</strong><br />
alters due to demographic change the c<strong>on</strong>sumpti<strong>on</strong> expenditures might differ<br />
a lot from a status quo calculati<strong>on</strong>. In the next secti<strong>on</strong> the ageing effect is<br />
quantified.<br />
c○GWSmbH 2012 11
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