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Familial Transfers and Generational Equity: An Introduction to National Transfer Accounts

Familial Transfers and Generational Equity: An Introduction to National Transfer Accounts. Andrew Mason East-West Center. Project Overview. Develop and apply a system of national accounts that Incorporate age into National Income and Product Accounts Estimates of consumption and production

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Familial Transfers and Generational Equity: An Introduction to National Transfer Accounts

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  1. Familial Transfers and Generational Equity: An Introduction to National Transfer Accounts Andrew Mason East-West Center Andrew Mason, East-West Center

  2. Project Overview • Develop and apply a system of national accounts that • Incorporate age into National Income and Product Accounts • Estimates of consumption and production • Estimates of intergenerational reallocations • Saving and the accumulation of other assets • Public programs, e.g., education, health, pensions • Family support systems for children and elderly Andrew Mason, East-West Center

  3. Organization Andrew Mason, East-West Center

  4. New Initiative • NUPRI in collaboration with EWC and CEDA • Extend project to include China, India, the Philippines, and Thailand • International Conference in 2007 • Funding request to UNFPA Andrew Mason, East-West Center

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  8. Objectives • Construct historical estimates and projections of the age profiles of production, consumption, and the lifecycle deficit. • Explain how they are influenced by • social • economic, and • demographic factors. Andrew Mason, East-West Center

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  11. Reallocation Systems • Systems that shift resources across age groups – from workers to dependent children and elderly • Features of reallocation systems • Market and non-market • Public and Private • Economic form • Saving and investment • Consumer credit • Transfers Andrew Mason, East-West Center

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  14. Source: Mason, Lee, Tung, and Lai. Andrew Mason, East-West Center

  15. Family reallocations include bequests. Bequests were approximately 74% of non-bequest family transfers in Taiwan and approximately 340% in the US. Source: Mason, Lee, Tung, and Lai. Andrew Mason, East-West Center

  16. Concluding Comments • Estimates presented here are preliminary and subject to change. • Differences between countries are consistent with our expectations. • Systematic quantification will facilitate important research on alternative support systems and public policy. Andrew Mason, East-West Center

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