Population Aging and the Generational Economy: A Global Perspective


Ronald Lee and Andrew Mason


Cheltenham, UK: Edward Elgar Publishing Limited

Available From: Edward Elgar
Publication Date: 2011
ISBN: 978-1-84844-898-8 (hardcover); 978-0-85793-464-2 (paper)
Binding: hardcover
Pages: xviii, 598


Winner of the 2012 Outstanding Academic Title Award, sponsored by Choice.

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 strucrture 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.

© Edward Elgar Publishing


"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


Details and ordering information at Edward Elgar Publishing.


Part I: Fundamental Principles and Concepts
  1. Population aging and the generational economy: key findings
  2. Theoretical aspects of National Transfer Accounts
  3. Introducing age into national accounts
  4. Lifecycles, support systems, and generational flows: patterns and change

    Part II: Comparative Analyses of Age and the Macroeconomy
  5. Labor income over the lifecycle
  6. Consumption over the lifecycle: an international comparison
  7. The rise of the intergenerational state: aging and development
  8. Private transfers in comparative perspective

    Part III: Country Studies of Age and the Macroeconomy

    A Overviews of the generational economy
  9. How intergenerational transfers finance the lifecycle deficit in Spain
  10. National Transfer Accounts for Austria: low levels of education and the generosity of the social security system
  11. The significance of inter-age economic transfers in Chile
  12. The economic lifecycle and intergenerational redistribution in Mexico
  13. National Transfer Accounts for Finland

    B The economic lifecycle
  14. The changing shape of the economic lifecycle in the United States, 1960 to 2003
  15. Labor income and consumption profiles: the case of Germany
  16. Slovenia: independence and the return to the family of European market economies
  17. Changes in patterns of Philippine lifecycle consumption and labor income between 1994 and 2002
  18. National Transfer Accounts for Kenya: the economic lifecycle in 1994

    C Systems of intergenerational flows
  19. Intergenerational resource allocation in the Republic of Korea
  20. Idiosyncrasies of intergenerational transfers in Brazil
  21. The changing pattens of China's public services
  22. Intergenerational redistribution in Sweden's public and private sectors
  23. Public transfer flows between generations in Uruguay
  24. The structure of generational public transfer flows in Nigeria
  25. The role of familial transfers in supporting the lifecycle deficit in India

    D Issues related to the generational economy
  26. The elderly as latent assets in aging Japan
  27. Living arrangements and support for the elderly in Taiwan
  28. Transfer accounts in Costa Rica's mixed economy under rapidly changing demographic conditions
  29. The support system for Indonesian elders:moving toward a sustainable national pension system
  30. Incorporating time into the National Transfer Accounts: the case of Thailand
  31. National Transfer Accounts in Hungary: contribution asset and returns in a pay-as-you-go pension scheme

    Part IV: Appendix Tables