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Macroeconomic Demography of Intergenerational Transfers

Macroeconomic Demography of Intergenerational Transfers. Andrew Mason University of Hawaii and East-West Center Ronald Lee University of California - Berkeley. Project Objectives. Develop a system of aggregate accounts that measures economic flows across age groups

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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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