| Abstract [eng] |
With the onset of long-term transformations in the demographic makeup of Central and Eastern European countries, the issue of their implications for the economy has become acute. Population ageing coupled with growing life expectancy and low birth rates are yet to be effectively addressed in the region, raising the question of economic sustainability. The aim of the dissertation is to identify, quantify and propose solutions to the negative effects of changes in the population’s age composition and life expectancy in Central and Eastern European countries on the economy through household consumption expenditures. Multiple variants of the Life Cycle Model are developed to achieve this goal. This approach allows the investigation of quantitative and qualitative factors, taking into account the significance of retirement system reforms as well as the possibility of a non-linear relationship between population ageing processes and household consumption expenditures, which has not been considered in prior research. Obtained empirical research results point to changes in life expectancy and age composition having a non-linear, overlapping effect on household consumption expenditures. The positive effect is attributed to ages 30-59, while the negative effect is associated with life post-retirement. Research findings support the introduction of post-retirement life expectancy as a retirement policy tool. |
