Macroeconomic and Demographic Determinants of Household Expenditures in OECD Countries

Abstract

Household expenditures are one of the indicators of individual and social welfare. Analysis of household expenditure dynamic has showed a significant change in the period of economic crisis: during the global economic crisis and the recession in Europe. Change of household expenditures occurs under the influence of such macroeconomic factors as disposable income of households, government spending, inflation, interest rate that should be considered in public policies. The population and the education level of population are also significant demographic factors that influence consumer spending and household spending on health.