Download or read book Private Intergenerational Transfers and Population Aging written by Erik Lüth and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the forthcoming decades the industrialized countries will experience a demographic transition that is unprecedented in history. While the transition's impact on public pension schemes has extensively been examined, its implication for private intergenerational transfers has gone almost unnoticed by the literature. This study attempts to make up for that gap in the literature. It gives a comprehensive overview of private transfer patterns in Germany, extends the methodology of generational accounting to include private intergenerational transfers, and presents a computable general equilibrium model that for the first time allows to analyze various bequest motives in a unified framework.

Download or read book Population Aging and the Generational Economy written by Ronald Demos Lee and published by Edward Elgar Publishing. This book was released on 2011-01-01 with total page 617 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'While there already exists a crowded body of publications addressing the effect of an aging population on the economy, this monograph is most outstanding in presenting a global, in-depth analysis of the implications thereby generated for 23 developed and developing countries. . . Scholars, researchers, and practitioners everywhere will benefit immensely from this comprehensive work.' – H.I. Liebling, Choice 'Ron Lee and Andrew Mason's Population Aging and the Generational Economy is a demographic and economic tour-de-force. Their collaborative, intercontinental. . . study of aging, consumption, labor supply, saving, and private and public transfers is the place to go to understand global aging and its myriad and significant economic challenges and opportunities.' – Laurence Kotlikoff, Boston University, US 'The culmination of. . . work by Lee, Mason, and their collaborators from around the world to extend Samuelson's framework to accommodate realistic demography, empirical measurement of age-specific earnings, consumption, tax payments, and benefit receipts, the studies. . . demonstrate the power of this integrated economic-demographic framework to advance our understanding of critical public policy challenges faced by countries at different stages of demographic transition and population aging.' – Robert Willis, University of Michigan, US 'Lee and Mason have done scholars and practitioners a magnificent service by undertaking this comprehensive, compelling, and supremely innovative examination of the economic consequences of changes in population age structure. The book is a bona fide crystal ball. It will be a MUST READ for the next decade!' – David Bloom, Harvard School of Public Health, US 'Population Aging and the Generational Economy provides an encompassing account of what we know about population aging and the impact that this process will have on our economies. It does not confine itself to the advanced industrial countries, where aging has already been largely studied, but adopts a truly global perspective. I am sure it will become a key reference for researchers, students and those involved in policy-making in areas that are affected by population aging.' – Giuliano Bonoli, Swiss Graduate School of Public Administration (IDHEAP), Switzerland Over coming decades, changes in population age structure will have profound implications for the macroeconomy, influencing economic growth, generational equity, human capital, saving and investment, and the sustainability of public and private transfer systems. How the future unfolds will depend on key actors in the generational economy: governments, families, financial institutions, and others. This path-breaking book provides a comprehensive analysis of the macroeconomic effects of changes in population age structure across the globe. The result of a substantial seven-year research project involving over 50 economists and demographers from Africa, Asia, Europe, Latin America, and the United States, the book draws on a new and comprehensive conceptual framework – National Transfer Accounts – to quantify the economic lifecycle and economic flows across generations. It presents comprehensive estimates of both public and private economic flows between generations, and emphasizes the global nature of changes in population age structure that are affecting rich and poor countries alike. This unique and informative book will prove an invaluable reference tool for a wide-ranging audience encompassing students, researchers, and academics in fields such as demography, aging, public finance, economic development, macroeconomics, gerontology, and national income accounting; for policy-makers and advisers focusing on areas of the public sector such as education, health, pensions, other social security programs, tax policy, and public debt; and for policy analysts at international agencies such as the World Bank, the IMF, and the UN.

Download or read book Population Aging Intergenerational Transfers and the Macroeconomy written by Robert L. Clark and published by Edward Elgar Publishing. This book was released on 2007-01-01 with total page 319 pages. Available in PDF, EPUB and Kindle. Book excerpt: Population aging is a global phenomenon that influences not only the industrialized countries of Asia and the West, but also many middle- and low- income countries that have experienced rapid fertility decline and achieved long life expectancies. This book explores how workers and consumers are responding to population aging and examines how economic growth, generational equity, trade and international capital flows are influenced by population aging. The contributors draw on the experience of the developing and industrialized worlds and on countries in Asia, North America, and Europe. They offer new evidence about micro-level responses of labor force participation, earnings, and savings to actual and/or perceived demographic change. Their broad perspective on population aging spans the entire demographic transition and demonstrates the importance of effective policy response in the early stages of population aging. Also included are policy analyses that explore the use of tax policy, financial reform, and policies targeting immigration and procreation. This insightful study will prove invaluable to students and scholars of population economics, public sector economics, welfare economics, social economics, and public finance. Pension analysts and government policymakers will find the material of great practical use.

Download or read book Population Aging and Intergenerational Transfers written by Andrew W. Mason and published by . This book was released on 2010 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Population Aging and Intergenerational Transfers written by Andrew Mason and published by . This book was released on 2006 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Allocating Public and Private Resources across Generations written by Anne H. Gauthier and published by Springer Science & Business Media. This book was released on 2007-08-24 with total page 314 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores how demographic changes affect inter-generational transfers of time, money, goods, and services, all things that play a role in the well-being of individuals and families. It details the nature and measurement of transfers, their motives and mechanisms, and their macro-level dimensions, especially in the context of demographic transitions. Coverage includes original empirical analyses of datasets from some twenty countries and extends the traditional analysis of inter-generational transfers by examining different types of transfers.

Download or read book Preparing for an Aging World written by National Research Council and published by National Academies Press. This book was released on 2001-06-26 with total page 326 pages. Available in PDF, EPUB and Kindle. Book excerpt: Aging is a process that encompasses virtually all aspects of life. Because the speed of population aging is accelerating, and because the data needed to study the aging process are complex and expensive to obtain, it is imperative that countries coordinate their research efforts to reap the most benefits from this important information. Preparing for an Aging World looks at the behavioral and socioeconomic aspects of aging, and focuses on work, retirement, and pensions; wealth and savings behavior; health and disability; intergenerational transfers; and concepts of well-being. It makes recommendations for a collection of new, cross-national data on aging populationsâ€"data that will allow nations to develop policies and programs for addressing the major shifts in population age structure now occurring. These efforts, if made internationally, would advance our understanding of the aging process around the world.

Download or read book Population Aging and Intergenerational Trasnfers written by Andrew Mason and published by . This book was released on 2006 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book The Economic Lifecycle Gender and Intergenerational Support written by Marina Zannella and published by Springer. This book was released on 2017-07-28 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines economic transfers across generations and genders from a European perspective. It addresses key challenges that contemporary societies face in regards to ageing, welfare sustainability, and intergenerational and gender equity. Coverage also offers important insights into an often invisible side of the economy, namely the contribution of women who because of the gender contract largely engage in unpaid work in the household. The book presents a detailed analysis of resource reallocation across population members in Italy, which encompasses the age and the gender perspective, the public and the private sector, and the market and non-market dimensions of the Italian economy. This innovative and comprehensive case study presents valuable information on how intergenerational obligations are split between the family and the state. The author also explores the possible economic consequences of future ageing by using demographic projections and estimated age profiles of production and consumption. By incorporating services originating from unpaid work in its analysis, this monograph corrects the traditional under-evaluation of the ways homemakers contribute to the economy and offers an important addition to studies on generational economy, the National Transfer Accounts project in particular. The methods presented inside, though using data specific to Italy, are relevant for all European countries and will appeal to readers with an interest in welfare studies and policies.

Download or read book Population Aging and Intergenerational Transfers Introducing Age Into National Accounts written by and published by . This book was released on 2006 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Future Directions for the Demography of Aging written by National Academies of Sciences, Engineering, and Medicine and published by National Academies Press. This book was released on 2018-07-21 with total page 409 pages. Available in PDF, EPUB and Kindle. Book excerpt: Almost 25 years have passed since the Demography of Aging (1994) was published by the National Research Council. Future Directions for the Demography of Aging is, in many ways, the successor to that original volume. The Division of Behavioral and Social Research at the National Institute on Aging (NIA) asked the National Academies of Sciences, Engineering, and Medicine to produce an authoritative guide to new directions in demography of aging. The papers published in this report were originally presented and discussed at a public workshop held in Washington, D.C., August 17-18, 2017. The workshop discussion made evident that major new advances had been made in the last two decades, but also that new trends and research directions have emerged that call for innovative conceptual, design, and measurement approaches. The report reviews these recent trends and also discusses future directions for research on a range of topics that are central to current research in the demography of aging. Looking back over the past two decades of demography of aging research shows remarkable advances in our understanding of the health and well-being of the older population. Equally exciting is that this report sets the stage for the next two decades of innovative researchâ€"a period of rapid growth in the older American population.

Download or read book Preparing for an Aging World written by National Research Council and published by National Academies Press. This book was released on 2001-07-26 with total page 327 pages. Available in PDF, EPUB and Kindle. Book excerpt: Aging is a process that encompasses virtually all aspects of life. Because the speed of population aging is accelerating, and because the data needed to study the aging process are complex and expensive to obtain, it is imperative that countries coordinate their research efforts to reap the most benefits from this important information. Preparing for an Aging World looks at the behavioral and socioeconomic aspects of aging, and focuses on work, retirement, and pensions; wealth and savings behavior; health and disability; intergenerational transfers; and concepts of well-being. It makes recommendations for a collection of new, cross-national data on aging populationsâ€"data that will allow nations to develop policies and programs for addressing the major shifts in population age structure now occurring. These efforts, if made internationally, would advance our understanding of the aging process around the world.

Download or read book Global Aging and Its Challenge to Families written by Vern L. Bengtson and published by Transaction Publishers. This book was released on with total page 412 pages. Available in PDF, EPUB and Kindle. Book excerpt: The recent explosion in population aging across the globe represents one of the most remarkable demographic changes in human history. There is much concern about population aging and its consequences for nations, for governments, and for individuals. It has often been noted that population aging will inevitably affect the economic stability of most countries and the policies of most state governments. What is less obvious, but equally important, is that population aging will profoundly affect families. Who will care for the growing numbers of tomorrow's very old members of societies? Will it be state governments? The aged themselves? Their families? The purpose of this volume is to examine consequences of global aging for families and intergenerational support, and for nations as they plan for the future. Four remarkable social changes during the past fifty years are highlighted: (1) Extension of the life course: A generation has been added to the average span of life over the past century; (2) Changes in the age structures of nations: Most nations today have many more elders, and many fewer children, than fifty years ago; (3) Changes in family structures and relationships: Some of these differences are the result of trends in family structure, notably higher divorce rates and the higher incidence of childbearing to single parents; (4) Changes in governmental responsibilities: In the last decade, governmental responsibility appears to have slowed or reversed as states reduce welfare expenditures. How will families respond to twenty-first-century problems associated with population aging? Will families indeed be important in the twenty-first century, or will kinship and the obligations across generations become increasingly irrelevant, replaced by "personal communities"? This volume goes a considerable distance to answer these critical issues for the twenty-first century. Vern L. Bengtson is an AARP/University Chair in Gerontology and Professor of Sociology, University of Southern California. Ariela Lowenstein is associate professor and head, Department of Aging Studies, University of Haifa, Israel.

Download or read book The Family the Market or the State written by Gustavo De Santis and published by Springer Science & Business Media. This book was released on 2012-06-19 with total page 215 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book touches upon a few of the major challenges that all modern societies will have to face in the near future: how to set up a resilient pay-as-you-go pension system; whether the current balance between expenses and revenues in social expenditure is viable in the future, and, if not, what changes need to be introduced; whether the relative well-being of the current and future cohorts of the old will be preserved, and how their standards of living compare to those experienced by the old in the recent past. At the micro level, the exchanges between generations are presented and discussed in detail: how they have evolved in the recent past in terms of time, money, co-residence and proximity, and what will likely happen next. The geographical scope is on the developed countries, plus South Korea. A rich documentation of tables and graphs supports the scientific analyses and the policy implications in each of the nine chapters of this book, where demography, sociology, and economics intersect fruitfully, both at the macro and at the micro level.

Download or read book Developments in the Economics of Aging written by David A. Wise and published by University of Chicago Press. This book was released on 2009-08-01 with total page 431 pages. Available in PDF, EPUB and Kindle. Book excerpt: The number of Americans eligible to receive Social Security benefits will increase from forty-five million to nearly eighty million in the next twenty years. Retirement systems must therefore adapt to meet the demands of the largest aging population in our nation’s history. In Developments in the Economics of Aging, David A. Wise and a distinguished group of analysts examine the economic issues that will confront policy makers as they seek to design policies to protect the economic and physical health of these older Americans. The volume looks at such topics as factors influencing work and retirement decisions at older ages, changes in life satisfaction associated with retirement, and the shift in responsibility for managing retirement assets from professional money managers of traditional pension plans to individual account holders of 401(k)s. Developments in the Economics of Aging also addresses the complicated relationship between health and economic status, including why health behaviors vary across populations and how socioeconomic measures correlate with health outcomes.

Download or read book The Common Stake written by Eric R. Kingson and published by . This book was released on 1986 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays on Political Economy of Public Intergenerational Transfers written by Gianko Michailidis and published by . This book was released on 2019 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Low fertility and mortality rates combined with the retirement of the generation of "baby boomers" bring about dramatic population ageing and are projected to reverse the demographic pyramid in many advanced economies. The main implication derived from the population ageing concerns the public finance of the major public intergenerational transfers (i.e., pensions and education). Ageing makes the political clout of the elderly stronger and more inclined to support transfers towards their retirement, intensifying the intergenerational conflict between young and old. In parallel, an increasing income inequality constitutes another major trend in developed countries. This trend aggravates the intragenerational conflict between rich and poor over the redistribution and the size of the welfare state. This Ph.D. thesis investigates the interplay between the public finance of intergenerational transfers (i.e., pensions and education), population ageing and income inequality within a political economy framework. The main purpose of the second chapter is to conduct an empirical investigation on the effect of current and future population ageing on education spending taking into account the strategic intergenerational link that exists in a system with a pay-as-you-go (PAYG) pension structure. The design of the PAYG pension system provides the appropriate incentives for the working age generation to invest in public education of young "today" in order to "reap" future benefits "tomorrow" in terms of higher taxable income, social security contributions and returns on savings. We conduct a panel analysis on OECD countries over an extended period in order to test the effect of ageing on education spending in total and per educational level. Findings suggest that the intergenerational conflict is present however it depends on the level of total level of pension spending, indicating that in times of limited fiscal resources ageing has a negative effect on education spending. Furthermore, when we consider the intergenerational link projected (future) population ageing has a positive effect on education spending that seems to be driven by non-mandatory educational levels (pre-primary and tertiary). Better quality pre-primary schooling can increase the participation rate and liberate parents from a time intensive task of raising children, and hence can generate a substantial boost in parental productivity that is directly linked to the current pensions. Second, an increase in the quality of early-education for children could have a significant effect on their future productivity and therefore on future taxable income. In the same vein, higher quality tertiary education would lead to higher future productivity, and thereby higher taxable income that is linked with the pensions of current middle-aged workers. In the third chapter, taking into account the aforementioned intergenerational link between working age and young we aim to evaluate whether a system of public intergenerational transfers - both to the elderly and to the young - can be politically sustained. In other words, we investigate whether the electorate would choose to provide publicly intergenerational transfers (pensions and education) if this decision per se was put under voting? To examine this question we employ the unique dataset taken from the National Transfers Accounts project -that provides a coherent accounting framework of economic flows from one age group to another- and a theoretical framework for the political viability of public intergenerational transfers developed in the literature. We find that most of the developed countries meet the conditions to have a politically sustained system of pensions and education and that ageing contributes positively to the political viability of such a system. In the fourth chapter, we develop an overlapping generations model with heterogeneous agents with respect to their position in the income distribution, endogenous fertility and probabilistic voting to investigate how the size of public pensions and education is decided and how it is affected by population ageing and income inequality. The contribution is to include in a model with private and public education the dimension of pensions that are linked to the general level of education of the previous generation. This allows us to consider simultaneously both intragenerational and intergenerational conflicts as well as the intergenerational link. The model predicts that an increase in income inequality increases the income of the agent indifferent between public and private education, and thus decreases the participation in public education. This reduces the share of voters caring for public education through altruism for their children, which reduces the total public education spending (which in turn decreases taxes and increases pensions). However, the number of children attending public education decreases faster than the total spending, which leads to an increase in per student spending on public education. The mechanism in the case of an increase in the number of retirees works in a similar fashion: The increase in the number of pensioners increases the political weight of the retirees, increasing total pension spending (which increases taxes and decreases per student public education spending). The number of pensioners increases faster than the total pension spending, thus the per pensioner pension is decreasing. In both cases we find a positive relationship between per student public education spending and pensions through the budget constraint. Empirical evidences derived from a panel analysis of OECD countries seem to support our theoretical predictions. To sum up, this thesis reviews the existing literature on the effect of population ageing on pensions and on education, and explores empirically and theoretically the intergenerational link between these intergenerational transfers. This link between the adults and the young generation plays a crucial role in the analysis of both the effect of population ageing and the effect of income inequality on public finance of pensions and education. As we observe, ageing pressure in financial health of the PAYG pensions system indicates a conflict between financial and political sustainability. Nevertheless, if population ageing fosters political support for both public pensions and education, this can create some positive feedback improving future financial prospects of the PAYG system. Using the findings from this thesis and previous theoretical research we can suggest that it might be a useful reform to require legislation to vote on pensions and education as a unique social policy package in order to boost the sustainability of both public intergenerational transfers. The main policy conclusion is that the debate on pension reform should be widen to consider the comprehensive action of public policy along the life cycle, i.e. the joint role of forward (from parents to children) and backward (from adults to elderly parents) intergenerational transfers. This will offer a more complete view of the incentives given to agents in decisions like savings, fertility and education." -- TDX.