Working Paper: NBER ID: w12770
Authors: Andrew Mason; Ronald Lee; Anchi Tung; Munsim Lai; Tim Miller
Abstract: 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.
Keywords: intergenerational transfers; economic growth; inequality; national transfer accounts; Taiwan; United States
JEL Codes: J10
Edges that are evidenced by causal inference methods are in orange, and the rest are in light blue.
| Cause | Effect |
|---|---|
| Intergenerational transfers (D15) | Development of youth (I25) |
| Economic contributions of the working-age population (J39) | Wellbeing of younger generations (I31) |
| Strength of familial systems (J12) | Level of support for the elderly (H55) |
| Familial transfers (D64) | Economic wellbeing of elderly (J14) |
| Type of support system (P00) | Economic wellbeing of elderly (J14) |
| Familial transfers from non-elderly adults (D15) | Economic outcomes for older adults (J26) |
| Asset income (G19) | Support for the elderly (H55) |