Working Paper Series, Department of Economics, Uppsala University
Age Distribution, Saving and Consumption in Sweden
Abstract: This paper focuses on an empirical analysis of the
dependency between age structure and aggregate consumption and the
composition of aggregate savings. In a long-run consumption function of
life cycle type, different demographic variables have a conclusive,
statistically significant effect. In investigating the link between
demographic variables and the composition of aggregate savings, a simple
simultaneous model is used, and a saving function and a house price
equation are estimated. The result even here is that age composition
matters for house price and savings. This conclusion is also made visible
by a simulation experiment. Finally is the model used to ascertain the
effect on the recent Swedish tax reform on savings.
19 pp., 1996
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