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Consumption and Labor Income Profiles: Results

Explore the results of consumption and labor income profiles across countries, including factors that contribute to variations. Preliminary findings for National Transfer Accounts are presented, displaying trends in consumption and labor income.

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Consumption and Labor Income Profiles: Results

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  1. Consumption and Labor Income Profiles: Results Sang-Hyop Lee University of Hawaii at Manoa National Transfer Accounts

  2. Outline • Results for Consumption (from An-Chi) • Results for Labor Income • Why do they differ across countries? • Time-series Results National Transfer Accounts

  3. Attention • All results are preliminary • Sources of estimation are suppressed • Not for citation • Per capita values are divided by average per capita earnings of people ages 30-49 for comparison (normalized) National Transfer Accounts

  4. Consumption: Single Hump National Transfer Accounts

  5. Double Hump National Transfer Accounts

  6. Flat for Adults and Old Ages National Transfer Accounts

  7. Rising at Old Age National Transfer Accounts

  8. Labor Income: Thick Flat Tails National Transfer Accounts

  9. Steep at Old Ages National Transfer Accounts

  10. Steep atEarly Ages National Transfer Accounts

  11. Start late, exit late National Transfer Accounts

  12. Why Differ across Countries? National Transfer Accounts

  13. Consumption • Income level matters • C on elderly is high in rich countries, and is mostly due to medical expenditures • C on children is low in low-income countries • Public vs. Private C • Richer countries have larger public consumption expenditures, on both health and education. • Data problems • CFD (durable) and CFR (housing) are not calculated in all economies • NTA methods to allocate to individuals National Transfer Accounts

  14. Labor Income • Per capita labor income profile depends on several things. • Richer countries have low LFPRs for children and elderly • Richer countries have low share of self-employment income. • Old age productivity varies across countries. • Institution (legal age of work, mandatory schooling, minimum wage, seniority-based wage system) matters. • Data problems • Measurement of self-employment income National Transfer Accounts

  15. Time-series and Cohort National Transfer Accounts

  16. Consumption, Taiwan, 1981-2003 National Transfer Accounts

  17. Labor Income, Taiwan 1977-2003 National Transfer Accounts

  18. National Transfer Accounts

  19. National Transfer Accounts

  20. Acknowledgement Support for this project has been provided by the following institutions: • the John D. and Catherine T. MacArthur Foundation; • the National Institute on Aging: NIA, R37-AG025488 and NIA, R01-AG025247; • the International Development Research Centre (IDRC); • the United Nations Population Fund (UNFPA); • the Academic Frontier Project for Private Universities: matching fund subsidy from MEXT (Ministry of Education, Culture, Sports, Science and Technology), 2006-10, granted to the Nihon University Population Research Institute. National Transfer Accounts

  21. The End National Transfer Accounts

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