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Population Aging And The Generational Economy

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Population Aging And The Generational Economy

A Global Perspective

Ronald Lee , Andrew Mason

Edited by Ronald Lee, Professor of Demography and Jordan Family Professor of Economics and Director, Center for the Economics and Demography of Aging, University of California, Berkeley, US and Andrew Mason, Professor of Economics, University of Hawaii at Manoa and Senior Fellow, Population and Health Studies, East-West Center, Hawaii, US

Awarded Choice Outstanding Academic Title for 2012
2011 616 pp Hardback 978 1 84844 898 8
2013 Paperback 978 0 85793 464 2
ebook isbn 978 0 85793 058 3

Hardback £133.00 on-line price £119.70

Paperback £32.00 on-line price £25.60


Available as an eBook for subscribing libraries on Elgaronline.

For individuals at paper price on Google ebooks and

Other eBook partners.

‘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

Contributors: C.-B. An, J. Bravo, M. Bucheli, A. Chawla, Q. Chen, Y.-J. Chun, A. Collado, G. Donehower, R.I. Gál, V. Gergely, E.-S. Gim, C. González, D. Hallberg, M. Holz, N. Hwang, Y. Jiang, F.A. Kluge, L. Ladusingh, N.M.S. Lai, A.O. Lawanson, R. Lee, S.-H. Lee, L. Li, T. Lindh, J. Malacic, Maliki, A. Mason, R. Matsukura, M. Medgyesi, I. Mejía-Guevara, T. Miller, M.K. Muriithi, R.G. Mutegi, G. Mwabu, M.R. Narayana, G. Öberg, N. Ogawa, O. Olaniyan, C. Patxot, M. Phananiramai, A. Prskawetz, B.L. Queiroz, R.H. Racelis, E. Rentería, E.L.G. Rios-Neto, L. Rosero-Bixby, J.M.I. Salas, J. Sambt, M. Sánchez-Romero, G. Souto, A. Soyibo, C. Thulstrup, A.-C. Tung, C.M. Turra, R. Vaittinen, R. Vanne, P. Zúñiga-Brenes

Further information

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.

Full table of contents



1. Population Aging and the Generational Economy: Key Findings
Andrew Mason and Ronald Lee

2. Theoretical Aspects of National Transfer Accounts
Ronald Lee and Andrew Mason

3. Introducing Age into National Accounts
Andrew Mason and Ronald Lee

4. Lifecycles, Support Systems, and Generational Flows: Patterns and Change
Ronald Lee and Andrew Mason

5. Labor Income Over the Lifecycle
Sang-Hyop Lee and Naohiro Ogawa

6. Consumption Over the Lifecycle: An International Comparison
An-Chi Tung

7. The Rise of the Intergenerational State: Aging and Development
Tim Miller

8. Private Transfers in Comparative Perspective
Ronald Lee and Gretchen Donehower

9. Asset-based Flows from a Generational Perspective
Andrew Mason, Naohiro Ogawa, Amonthep Chawla and Rikiya Matsukura

A. Overviews of the Generational Economy
10. How Intergenerational Transfers Finance the Lifecycle Deficit in Spain
Concepció Patxot, Elisenda Rentería, Miguel Sánchez-Romero and Guadalupe Souto

11. National Transfer Accounts for Austria: Low Levels of Education and the Generosity of the Social Security System
Jože Sambt and Alexia Prskawetz

12. The Significance of Inter-age Economic Transfers in Chile
Jorge Bravo and Mauricio Holz

13. The Economic Lifecycle and Intergenerational Redistribution in Mexico
Iván Mejía-Guevara

14. National Transfer Accounts for Finland
Risto Vaittinen and Reijo Vanne

B. The Economic Lifecycle
15. The Changing Shape of the Economic Lifecycle in the United States, 1960 to 2003
Ronald Lee, Gretchen Donehower and Tim Miller

16. Labor Income and Consumption Profiles: The Case of Germany
Fanny A. Kluge

17. Slovenia: Independence and the Return to the Family of European Market Economies
Jože Sambt and Janez Malacic

18. Changes in Patterns of Philippine Lifecycle Consumption and Labor Income between 1994 and 2002
Rachel H. Racelis and J.M. Ian Salas

19. National Transfer Accounts for Kenya: The Economic Lifecycle in 1994
Germano Mwabu, Moses K. Muriithi and Reuben G. Mutegi

C. Systems of Intergenerational Flows
20. Intergenerational Resource Allocation in the Republic of Korea
Chong-Bum An, Young-Jun Chun, Eul-Sik Gim, Namhui Hwang and Sang-Hyop Lee

21. Idiosyncrasies of Intergenerational Transfers in Brazil
Cassio M. Turra, Bernardo L. Queiroz and Eduardo L.G. Rios-Neto

22. The Changing Patterns of China’s Public Services
Ling Li, Qiulin Chen and Yu Jiang

23. Intergenerational Redistribution in Sweden’s Public and Private Sectors
Daniel Hallberg, Thomas Lindh, Gustav Öberg and Charlotte Thulstrup

24. Public Transfer Flows between Generations in Uruguay
Marisa Bucheli and Cecilia González

25. The Structure of Generational Public Transfer Flows in Nigeria
Adedoyin Soyibo, Olanrewaju Olaniyan and Akanni O. Lawanson

26. The Role of Familial Transfers in Supporting the Lifecycle Deficit in India
Laishram Ladusingh and M.R. Narayana

D. Issues Related to the Generational Economy
27. The Elderly as Latent Assets in Aging Japan
Naohiro Ogawa, Rikiya Matsukura and Amonthep Chawla

28. Living Arrangements and Support for the Elderly in Taiwan
An-Chi Tung and Nicole Mun Sim Lai

29. Transfer Accounts in Costa Rica’s Mixed Economy Under Rapidly Changing Demographic Conditions
Luis Rosero-Bixby, Paola Zúñiga-Brenes and Andrea Collado

30. The Support System for Indonesian Elders: Moving Toward a Sustainable National Pension System

31. Incorporating Time into the National Transfer Accounts: The Case of Thailand
Mathana Phananiramai

32. National Transfer Accounts in Hungary: Contribution Asset and Returns in a Pay-as-you-go Pension Scheme
Róbert I. Gál, Vera Gergely and Márton Medgyesi




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