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Macroeconomic Demography of Intergenerational Transfers

This project focuses on developing aggregate accounts to measure economic flows between different age groups and assessing the impact of aging, economic changes, and public policies on intergenerational transfers. The study aims to estimate historical and current accounts in various contexts and develop projection models to analyze support systems and macroeconomic consequences of aging. The project also explores issues related to consumption patterns, productivity, and wage systems in different regions. Preliminary results highlight the complexity and importance of studying intergenerational transfers.

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Macroeconomic Demography of Intergenerational Transfers

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  1. Macroeconomic Demography of Intergenerational Transfers Andrew Mason University of Hawaii and East-West Center Ronald Lee University of California - Berkeley Andrew Mason, East-West Center

  2. Project Objectives • Develop a system of aggregate accounts that measures economic flows across age groups • National Transfer Flow Accounts • Market and non-market transactions • Public and private (familial) • Asset flows (capital, credit, land) • Transfers Andrew Mason, East-West Center

  3. Project Objectives • Estimate current and historical accounts in varying social, economic, and political contexts • Develop projection models that can be used to assess the effects of economic change, aging, family systems, and public policy • Study the evolution of support systems • Study the macroeconomic consequences of aging and alternative support systems Andrew Mason, East-West Center

  4. Organization Andrew Mason, East-West Center

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  9. Issues • Consumption age profile • Available estimation methods problematic (Engel, Rothbarth, collective models) • Education and health can be reliably estimated • Productivity age profile • Earnings may not reflect age variation in productivity • Seniority wage system in Japan, for example. Andrew Mason, East-West Center

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  19. Concluding Comments • Estimates are preliminary. • Many technical issues remain. • Early results are plausible and interesting. Andrew Mason, East-West Center

  20. The End Andrew Mason, East-West Center

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