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Population Aging and Intergenerational Transfers: Introducing Age into National Accounts

In: Developments in the Economics of Aging

  • Andrew Mason
  • Ronald Lee
  • An-Chi Tung
  • Mun-Sim Lai
  • Tim Miller

In all societies intergenerational transfers are large and have an important influence on inequality and growth. The development of each generation of youth depends on the resources that it receives from productive members of society for health, education, and sustenance. The well-being of the elderly depends on familial support and a variety of social programs. The National Transfer Accounts (NTA) system provides a comprehensive approach to measuring all reallocations of income across age and time at the aggregate level. It encompasses reallocations achieved through capital accumulation and transfers, distinguishing those mediated by public institutions from those relying on private institutions. This paper introduces the methodology and presents preliminary results emphasizing economic support systems in Taiwan and the United States. As the two economies differ in their demographic configuration, their level of development, and their old-age support systems, comparing them will shed light on the economic implications of population aging under alternative institutional arrangements.

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This chapter was published in:
  • David A. Wise, 2009. "Developments in the Economics of Aging," NBER Books, National Bureau of Economic Research, Inc, number wise09-1, July.
  • This item is provided by National Bureau of Economic Research, Inc in its series NBER Chapters with number 11312.
    Handle: RePEc:nbr:nberch:11312
    Contact details of provider: Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.
    Phone: 617-868-3900
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