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Inclusive wealth with a changing but aging population

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  • Yamaguchi, Rintaro

Abstract

We consider the effect of population age distribution in inclusive wealth accounting. Numerical results demonstrate that the wealth of nations with an aging demographic structure, as well as those with a rapidly increasing working-age generation, may have been overestimated.

Suggested Citation

  • Yamaguchi, Rintaro, 2014. "Inclusive wealth with a changing but aging population," Economics Letters, Elsevier, vol. 124(1), pages 21-25.
  • Handle: RePEc:eee:ecolet:v:124:y:2014:i:1:p:21-25
    DOI: 10.1016/j.econlet.2014.04.011
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    References listed on IDEAS

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    1. Hamilton, Kirk & Clemens, Michael, 1999. "Genuine Savings Rates in Developing Countries," World Bank Economic Review, World Bank Group, vol. 13(2), pages 333-356, May.
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    3. Kenneth Arrow & Partha Dasgupta & Lawrence Goulder & Gretchen Daily & Paul Ehrlich & Geoffrey Heal & Simon Levin & Karl-Göran Mäler & Stephen Schneider & David Starrett & Brian Walker, 2004. "Are We Consuming Too Much?," Journal of Economic Perspectives, American Economic Association, vol. 18(3), pages 147-172, Summer.
    4. Martin L. Weitzman, 1976. "On the Welfare Significance of National Product in a Dynamic Economy," The Quarterly Journal of Economics, Oxford University Press, vol. 90(1), pages 156-162.
    5. Arrow, Kenneth J. & Dasgupta, Partha & Goulder, Lawrence H. & Mumford, Kevin J. & Oleson, Kirsten, 2012. "Sustainability and the measurement of wealth," Environment and Development Economics, Cambridge University Press, vol. 17(03), pages 317-353, June.
    6. Douglas Gollin, 2002. "Getting Income Shares Right," Journal of Political Economy, University of Chicago Press, vol. 110(2), pages 458-474, April.
    7. Kirk Hamilton & Giles Atkinson, 2006. "Wealth, Welfare and Sustainability," Books, Edward Elgar Publishing, number 3236, February.
    8. Dasgupta, Partha & M Ler, Karl-G Ran, 2000. "Net national product, wealth, and social well-being," Environment and Development Economics, Cambridge University Press, vol. 5(01), pages 69-93, February.
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    10. World Bank, 2012. "World Development Indicators 2012," World Bank Publications, The World Bank, number 6014, January.
    11. Geir Asheim, 2004. "Green national accounting with a changing population," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 23(3), pages 601-619, March.
    12. Geir B. Asheim, 2003. "Green national accounting for welfare and sustainability:A Taxonomy Of Assumptions And Results," Scottish Journal of Political Economy, Scottish Economic Society, vol. 50(2), pages 113-130, May.
    13. Susana Ferreira & Kirk Hamilton & Jeffrey R. Vincent, 2008. "Comprehensive Wealth and Future Consumption: Accounting for Population Growth," World Bank Economic Review, World Bank Group, vol. 22(2), pages 233-248, May.
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    Cited by:

    1. repec:eee:enepol:v:121:y:2018:i:c:p:1-12 is not listed on IDEAS
    2. Rintaro Yamaguchi & Masayuki Sato & Kazuhiro Ueta, 2016. "Measuring Regional Wealth and Assessing Sustainable Development: An Application to a Disaster-Torn Region in Japan," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 129(1), pages 365-389, October.
    3. Collins, Ross D. & Selin, Noelle E. & de Weck, Olivier L. & Clark, William C., 2017. "Using inclusive wealth for policy evaluation: Application to electricity infrastructure planning in oil-exporting countries," Ecological Economics, Elsevier, vol. 133(C), pages 23-34.
    4. repec:eee:ecanpo:v:60:y:2018:i:c:p:43-61 is not listed on IDEAS
    5. Yagi, Michiyuki & Managi, Shunsuke, 2018. "Shadow price of patent stock as knowledge stock: Time and country heterogeneity," MPRA Paper 89146, University Library of Munich, Germany.

    More about this item

    Keywords

    Sustainable development; Genuine savings; Inclusive wealth; Population change;

    JEL classification:

    • E1 - Macroeconomics and Monetary Economics - - General Aggregative Models
    • J1 - Labor and Demographic Economics - - Demographic Economics
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development

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