The Impact of Population Ageing on Consumption from the Angle of Economic Output
From the perspective of economic output,this article analyzed the effects of population ageing on consumption.A theoretical analysis based on the economic growth model shows that the increase in human capital investment and capital stock of older people will promote consumption,thereby weakening the problem of per capita consumption decline that may be caused by the increase in the proportion of older adults.At the same time,an empirical model was constructed and then tested using the national data of China from 2001 to 2021.It demonstrates that the impact of the proportion of the elderly population on consumption in China is still in a positive promoting stage.Besides,the increase in the investment in children's education and health has a positive impact on consumption by improving human capital.Furthermore,the capital accumulation by Chinese seniors has not formed a social capital intensity and has not yet played a promoting role in consumption.On the basis of the above conclusions and the specific situation of China,corresponding policy suggestions were put forward.
population ageingimpact on consumptioneconomic output
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