{
  "title": "Demographics and Consumption in Asia Toward 2050",
  "publication": "IMF Working Papers, November 21, 2025",
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  "summary": "What are the implications of demographics on total consumption and its sectoral composition in Asia toward 2050? Although the literature has studied total consumption and individual consumption categories separately, the research that studies both is scarce.",
  "sections": [
    {
      "heading": "Research question and methodology",
      "content": "- Research question: What are the implications of demographics on total consumption and its sectoral composition in Asia toward 2050?\n- Data and approach:\n  - Uses household consumption surveys from seven Asian economies.\n  - Uses UN population projections.\n  - Focuses on both total consumption and individual consumption categories jointly (noted as scarce in existing literature)."
    },
    {
      "heading": "Key findings",
      "content": "- Compositional effects:\n  - The compositional effects of demographics on total consumption can be large when middle-aged population changes rapidly.\n- Sectoral differentials due to aging:\n  - Due to aging, some categories, including education and transport, may grow slower than others, like health.\n- Uncertainty drivers:\n  - The implications are uncertain due to factors like economic growth, fertility, and migration."
    },
    {
      "heading": "Subjects and keywords",
      "content": "- Subject: Consumption, Education, Household consumption, National accounts, Population and demographics, Population growth\n- Keywords: Aging, Asia and Pacific, Consumption, consumption category, Demographics, Household consumption, household consumption survey, IMF working papers, Jeongwon son, Population growth, views of the IMF\n\n---\n\n Content in this bundle\n\n- Working Paper\n  - Working Paper (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Working Paper (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2025/11/21/demographics-and-consumption-in-asia-toward-2050-572016"
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    "Authors: Sakai Ando, Kaitoh Hidano, Jeongwon Son",
    "Published: November 21, 2025",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9798229032100.001",
    "Research question: What are the implications of demographics on total consumption and its sectoral composition in Asia toward 2050?",
    "Data and approach:",
    "Compositional effects:",
    "Sectoral differentials due to aging:",
    "Uncertainty drivers:",
    "Subject: Consumption, Education, Household consumption, National accounts, Population and demographics, Population growth",
    "Keywords: Aging, Asia and Pacific, Consumption, consumption category, Demographics, Household consumption, household consumption survey, IMF working papers, Jeongwon son, Population growth, views of the IMF",
    "**Working Paper**"
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