(Translated by https://www.hiragana.jp/)
Generational Economics and the National Transfer Accounts
IDEAS home Printed from https://ideas.repec.org/p/hal/pseptp/hal-01305151.html
   My bibliography  Save this paper

Generational Economics and the National Transfer Accounts

Author

Listed:
  • Hippolyte d'Albis

    (PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique)

  • Dalal Moosa

    (PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement)

Abstract

This article provides a comprehensive picture of the National Transfer Accounts (NTA), a project that aims at measuring how people produce, consume, save, and share economic resources at every age. It stands today with a unique dataset that includes 47 countries from around the world, permitting a comparative understanding of economic flows within and between generations and over time.

Suggested Citation

  • Hippolyte d'Albis & Dalal Moosa, 2015. "Generational Economics and the National Transfer Accounts," PSE-Ecole d'économie de Paris (Postprint) hal-01305151, HAL.
    • Handle: RePEc:hal:pseptp:hal-01305151
    DOI: 10.1017/dem.2015.14
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Other versions of this item:

    References listed on IDEAS

    as
    1. W. Brian Arthur & Geoffrey McNicoll, 1977. "Optimal Time Paths with Age-Dependence: A Theory of Population Policy," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 44(1), pages 111-123.
    2. Martin Browning & Pierre-André Chiappori & Arthur Lewbel, 2013. "Estimating Consumption Economies of Scale, Adult Equivalence Scales, and Household Bargaining Power," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 80(4), pages 1267-1303.
    3. Paul L. Menchik, 1980. "Primogeniture, Equal Sharing, and the U.S. Distribution of Wealth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 94(2), pages 299-316.
    4. d'Albis, Hippolyte, 2007. "Demographic structure and capital accumulation," Journal of Economic Theory, Elsevier, vol. 132(1), pages 411-434, January.
    5. Thomas Piketty, 2011. "On the Long-Run Evolution of Inheritance: France 1820--2050," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 126(3), pages 1071-1131.
    6. repec:bla:scandj:v:94:y:1992:i:2:p:303-18 is not listed on IDEAS
    7. T. Paul Schultz, 2009. "The Gender and Intergenerational Consequences of the Demographic Dividend: An Assessment of the Micro- and Macrolinkages between the Demographic Transition and Economic Development," The World Bank Economic Review, World Bank, vol. 23(3), pages 427-442, October.
    8. Christopher House & John Laitner & Dmitriy Stolyarov, 2008. "Valuing Lost Home Production Of Dual Earner Couples," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 49(2), pages 701-736, May.
    9. James M. Poterba, 2004. "The impact of population aging on financial markets," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, issue Aug, pages 163-216.
    10. Paul A. Samuelson, 1958. "An Exact Consumption-Loan Model of Interest with or without the Social Contrivance of Money," Journal of Political Economy, University of Chicago Press, vol. 66(6), pages 467-467.
    11. Agulnik, Phil & Cardarelli, Roberto & Sefton, James, 2000. "The Pensions Green Paper: A Generational Accounting Perspective," Economic Journal, Royal Economic Society, vol. 110(467), pages 598-610, November.
    12. Xavier Chojnicki & Frédéric Docquier, 2007. "Fiscal Policy and Educational Attainment in the United States: A Generational Accounting Perspective," Economica, London School of Economics and Political Science, vol. 74(294), pages 329-350, May.
    13. Douglas Gollin, 2002. "Getting Income Shares Right," Journal of Political Economy, University of Chicago Press, vol. 110(2), pages 458-474, April.
    14. Ramey, Valerie A., 2009. "Time Spent in Home Production in the Twentieth-Century United States: New Estimates from Old Data," The Journal of Economic History, Cambridge University Press, vol. 69(1), pages 1-47, March.
    15. Thomas Lindh & Bo Malmberg, 1999. "Age structure effects and growth in the OECD, 1950-1990," Journal of Population Economics, Springer;European Society for Population Economics, vol. 12(3), pages 431-449.
    16. Orazio P. Attanasio & Costas Meghir & Ana Santiago, 2012. "Education Choices in Mexico: Using a Structural Model and a Randomized Experiment to Evaluate PROGRESA," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 79(1), pages 37-66.
    17. Philippe Weil, 2008. "Overlapping Generations: The First Jubilee," Journal of Economic Perspectives, American Economic Association, vol. 22(4), pages 115-134, Fall.
    18. Angus Deaton & Christina Paxson, 1998. "Economies of Scale, Household Size, and the Demand for Food," Journal of Political Economy, University of Chicago Press, vol. 106(5), pages 897-930, October.
    19. Torben Iversen & Frances Rosenbluth, 2006. "The Political Economy of Gender: Explaining Cross‐National Variation in the Gender Division of Labor and the Gender Voting Gap," American Journal of Political Science, John Wiley & Sons, vol. 50(1), pages 1-19, January.
    20. Menahem E. Yaari, 1965. "Uncertain Lifetime, Life Insurance, and the Theory of the Consumer," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 32(2), pages 137-150.
    21. Gray, Jeffrey S, 1998. "Divorce-Law Changes, Household Bargaining, and Married Women's Labor Supply," American Economic Review, American Economic Association, vol. 88(3), pages 628-642, June.
    22. Harley Frazis & Jay Stewart, 2011. "How does household production affect measured income inequality?," Journal of Population Economics, Springer;European Society for Population Economics, vol. 24(1), pages 3-22, January.
    23. Robert A. Pollak, 2005. "Bargaining Power in Marriage: Earnings, Wage Rates and Household Production," NBER Working Papers 11239, National Bureau of Economic Research, Inc.
    24. Bernheim, B Douglas & Shleifer, Andrei & Summers, Lawrence H, 1986. "The Strategic Bequest Motive," Journal of Labor Economics, University of Chicago Press, vol. 4(3), pages 151-182, July.
    25. Mark Aguiar & Erik Hurst, 2004. "Consumption vs. Expenditure," NBER Working Papers 10307, National Bureau of Economic Research, Inc.
    26. Seth R. Gitter & Bradford L. Barham, 2008. "Women's Power, Conditional Cash Transfers, and Schooling in Nicaragua," The World Bank Economic Review, World Bank, vol. 22(2), pages 271-290, May.
    27. Geoffrey Lancaster & Pushkar Maitra & Ranjan Ray, 2006. "Endogenous Intra‐household Balance of Power and its Impact on Expenditure Patterns: Evidence from India," Economica, London School of Economics and Political Science, vol. 73(291), pages 435-460, August.
    28. Devereux, John & Locay, Luis, 1992. "Specialization, Household Production, and the Measurement of Economic Growth," American Economic Review, American Economic Association, vol. 82(2), pages 399-403, May.
    29. Ronald Lee & Andrew Mason (ed.), 2011. "Population Aging and the Generational Economy," Books, Edward Elgar Publishing, number 13816.
    30. Mason, Andrew & Lee, Ronald, 2013. "Labor and consumption across the lifecycle," The Journal of the Economics of Ageing, Elsevier, vol. 1, pages 16-27.
    31. Emilio Zagheni & Marina Zannella, 2013. "The life cycle dimension of time transfers in Europe," Demographic Research, Max Planck Institute for Demographic Research, Rostock, Germany, vol. 29(35), pages 937-948.
    32. James B. Davies, 1982. "The Relative Impact of Inheritance and Other Factors on Economic Inequality," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 97(3), pages 471-498.
    33. James M. Poterba, 2001. "Demographic Structure And Asset Returns," The Review of Economics and Statistics, MIT Press, vol. 83(4), pages 565-584, November.
    34. Andrew Mason & Ronald Lee, 2011. "Population aging and the generational economy: key findings," Chapters, in: Ronald Lee & Andrew Mason (ed.), Population Aging and the Generational Economy, chapter 1, Edward Elgar Publishing.
    35. de la Croix,David & Michel,Philippe, 2002. "A Theory of Economic Growth," Cambridge Books, Cambridge University Press, number 9780521001151, September.
    36. Laura B. Rawlings, 2005. "Evaluating the Impact of Conditional Cash Transfer Programs," The World Bank Research Observer, World Bank, vol. 20(1), pages 29-55.
    37. repec:hal:wpspec:info:hdl:2441/8712 is not listed on IDEAS
    38. Andrew B. Abel, 2001. "Will Bequests Attenuate The Predicted Meltdown In Stock Prices When Baby Boomers Retire?," The Review of Economics and Statistics, MIT Press, vol. 83(4), pages 589-595, November.
    39. Hurd, Michael D, 1987. "Savings of the Elderly and Desired Bequests," American Economic Review, American Economic Association, vol. 77(3), pages 298-312, June.
    40. Cathleen Zick & W. Bryant & Sivithee Srisukhumbowornchai, 2008. "Does housework matter anymore? The shifting impact of housework on economic inequality," Review of Economics of the Household, Springer, vol. 6(1), pages 1-28, March.
    41. Robin Brooks, 2002. "Asset-Market Effects of the Baby Boom and Social-Security Reform," American Economic Review, American Economic Association, vol. 92(2), pages 402-406, May.
    42. Alexia Prskawetz & Jože Sambt, 2014. "Economic support ratios and the demographic dividend in Europe," Demographic Research, Max Planck Institute for Demographic Research, Rostock, Germany, vol. 30(34), pages 963-1010.
    43. Paul Schultz, T., 2004. "School subsidies for the poor: evaluating the Mexican Progresa poverty program," Journal of Development Economics, Elsevier, vol. 74(1), pages 199-250, June.
    44. Robert Haveman, 1994. "Should Generational Accounts Replace Public Budgets and Deficits?," Journal of Economic Perspectives, American Economic Association, vol. 8(1), pages 95-111, Winter.
    45. Ronald Lee, 1980. "Age Structure, Intergenerational Transfers and Economic Growth : an Overview," Revue Économique, Programme National Persée, vol. 31(6), pages 1129-1156.
    46. Erik Hurst, 2008. "The Retirement of a Consumption Puzzle," NBER Working Papers 13789, National Bureau of Economic Research, Inc.
    47. Miguel Sánchez Romero & Naohiro Ogawa & Rikiya Matsukura, 2013. "To give or not to give: bequest estimate and wealth impact based on a CGE model with realistic demography in Japan," MPIDR Working Papers WP-2013-012, Max Planck Institute for Demographic Research, Rostock, Germany.
    48. Angus Deaton, 2005. "Franco Modigliani and the life-cycle theory of consumption," BNL Quarterly Review, Banca Nazionale del Lavoro, vol. 58(233-234), pages 91-107.
    49. David E. Bloom & David Canning & Jaypee Sevilla, 2001. "Economic Growth and the Demographic Transition," NBER Working Papers 8685, National Bureau of Economic Research, Inc.
    50. Gronau, Reuben, 1980. "Home Production-A Forgotten Industry," The Review of Economics and Statistics, MIT Press, vol. 62(3), pages 408-416, August.
    51. repec:hal:spmain:info:hdl:2441/8712 is not listed on IDEAS
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Anne GOUJON & Samir K. C. & Markus SPERINGER & Bilal BARAKAT & Michaela POTANCOKOVÀ, 2016. "A Harmonized Dataset on Global Educational Attainment between 1970 and 2060 - An Analytical Window into Recent Trends and Future Prospects in Human Capital Development," JODE - Journal of Demographic Economics, Cambridge University Press, vol. 82(3), pages 315-363, September.
    2. Hippolyte d'Albis & Carole Bonnet & Xavier Chojnicki & Najat El Mekkaouide Freitas & Angela Greulich & Jérôme Hubert & Julien Navaux, 2018. "Who pays for the consumption of young and old?," Working Papers halshs-01799724, HAL.
    3. Hippolyte d’Albis & Carole Bonnet & Julien Navaux & Jacques Pelletan & François-Charles Wolff, 2017. "Lifecycle deficit in France: an assessment for the period 1979-2011," Economie et Statistique / Economics and Statistics, Institut National de la Statistique et des Etudes Economiques (INSEE), issue 491-492, pages 47-70.
    4. Lee, R., 2016. "Macroeconomics, Aging, and Growth," Handbook of the Economics of Population Aging, in: Piggott, John & Woodland, Alan (ed.), Handbook of the Economics of Population Aging, edition 1, volume 1, chapter 0, pages 59-118, Elsevier.
    5. Concepció Patxot, 2023. "The long-term evolution of intergenerational transfers in Spain (1958-2012)," UB School of Economics Working Papers 2023/459, University of Barcelona School of Economics.
    6. Michael Kuhn & Klaus Prettner, 2018. "Population age structure and consumption growth: evidence from National Transfer Accounts," Journal of Population Economics, Springer;European Society for Population Economics, vol. 31(1), pages 135-153, January.
    7. Tanja Istenic & Bernhard Hammer & Alexia Prskawetz, 2019. "European National (Time) Transfer Accounts," Vienna Yearbook of Population Research, Vienna Institute of Demography (VID) of the Austrian Academy of Sciences in Vienna, vol. 17(1), pages 201-221.
    8. d'Albis, Hippolyte & Badji, Ikpidi & El Mekkaoui, Najat & Navaux, Julien, 2020. "Private asset income in France: Is there a breakdown of intergenerational equity between 1979 and 2011?," The Journal of the Economics of Ageing, Elsevier, vol. 17(C).
    9. d’Albis, Hippolyte & Bonnet, Carole & Navaux, Julien & Pelletan, Jacques & Wolff, François-Charles, 2015. "Le déficit de cycle de vie en France: une évaluation pour la période 1979-2011," CEPREMAP Working Papers (Docweb) 1513, CEPREMAP.
    10. Constantin Anghelache & Madalina-Gabriela Anghel & Alina-Georgiana Solomon, 2017. "National Accounts System: Source of Information in Macroeconomic Forecast," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 7(2), pages 76-82, April.
    11. Hippolyte d'Albis & Carole Bonnet & Julien Navaux & Jacques Pelletan & François-­charles Wolff, 2017. "Le déficit de cycle de vie en France : une évaluation pour la période 1979-2001," Post-Print halshs-01599680, HAL.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Lee, R., 2016. "Macroeconomics, Aging, and Growth," Handbook of the Economics of Population Aging, in: Piggott, John & Woodland, Alan (ed.), Handbook of the Economics of Population Aging, edition 1, volume 1, chapter 0, pages 59-118, Elsevier.
    2. Schmidt, Torsten & Vosen, Simeon, 2013. "Demographic change and the labour share of income," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 26(1), pages 357-378.
    3. Axel Börsch‐Supan & Alexander Ludwig & Joachim Winter, 2006. "Ageing, Pension Reform and Capital Flows: A Multi‐Country Simulation Model," Economica, London School of Economics and Political Science, vol. 73(292), pages 625-658, November.
    4. Hippolyte d'Albis & Carole Bonnet & Xavier Chojnicki & Najat El Mekkaouide Freitas & Angela Greulich & Jérôme Hubert & Julien Navaux, 2018. "Who pays for the consumption of young and old?," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-01799724, HAL.
    5. Hippolyte d'Albis & Carole Bonnet & Xavier Chojnicki & Najat El Mekkaoui & Angela Greulich & Jérôme Hubert & Julien Navaux, 2019. "Financing the Consumption of the Young and Old in France," Population and Development Review, The Population Council, Inc., vol. 45(1), pages 103-132, March.
    6. Roel van Elk & Marc van der Steeg & Dinand Webbink, 2013. "The effects of a special program for multi-problem school dropouts on educational enrolment, employment and criminal behaviour; Evidence from a field experiment," CPB Discussion Paper 241.rdf, CPB Netherlands Bureau for Economic Policy Analysis.
    7. Axel Börsch‐Supan & Alexander Ludwig & Joachim Winter, 2006. "Ageing, Pension Reform and Capital Flows: A Multi‐Country Simulation Model," Economica, London School of Economics and Political Science, vol. 73(292), pages 625-658, November.
    8. repec:zbw:rwirep:0165 is not listed on IDEAS
    9. Torsten Schmidt & Simeon Vosen, 2010. "Demographic Change and the Labour Share of Income," Ruhr Economic Papers 0165, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.
    10. Attanasio, O. & Bonfatti, A. & Kitao, S. & Weber, G., 2016. "Global Demographic Trends," Handbook of the Economics of Population Aging, in: Piggott, John & Woodland, Alan (ed.), Handbook of the Economics of Population Aging, edition 1, volume 1, chapter 0, pages 179-235, Elsevier.
    11. Stelter, Robert, 2014. "Over-aging: Are present human populations too old?," Thuenen-Series of Applied Economic Theory 137, University of Rostock, Institute of Economics.
    12. Šević, Aleksandar & Brawn, Derek, 2015. "Do demographic changes matter? A cross-country perspective," Journal of Multinational Financial Management, Elsevier, vol. 30(C), pages 36-61.
    13. Axel Börsch-Supan & Alexander Ludwig & Joachim Winter, 2006. "Ageing, Pension Reform and Capital Flows: A Multi-Country Simulation Model," Economica, London School of Economics and Political Science, vol. 73(292), pages 625-658, November.
    14. d'Albis, Hippolyte & Augeraud-Véron, Emmanuelle & Schubert, Katheline, 2010. "Demographic-economic equilibria when the age at motherhood is endogenous," Journal of Mathematical Economics, Elsevier, vol. 46(6), pages 1211-1221, November.
    15. William G. Gale & John Karl Scholz, 1994. "Intergenerational Transfers and the Accumulation of Wealth," Journal of Economic Perspectives, American Economic Association, vol. 8(4), pages 145-160, Fall.
    16. Marianna Brunetti & Costanza Torricelli, 2010. "Demographics and asset returns: does the dynamics of population ageing matter?," Annals of Finance, Springer, vol. 6(2), pages 193-219, March.
    17. Nancy Folbre & Marta Murray-Close & Jooyeoun Suh, 2018. "Equivalence scales for extended income in the U.S," Review of Economics of the Household, Springer, vol. 16(2), pages 189-227, June.
    18. Charles Yuji Horioka, 2002. "Are the Japanese Selfish, Altruistic or Dynastic?," The Japanese Economic Review, Japanese Economic Association, vol. 53(1), pages 26-54, March.
    19. Shihong Zeng & Xinwei Zhang & Xiaowei Wang & Guowang Zeng, 2019. "Population Aging, Household Savings and Asset Prices: A Study Based on Urban Commercial Housing Prices," Sustainability, MDPI, vol. 11(11), pages 1-21, June.
    20. Augeraud-Véron, Emmanuelle & D'Albis, Hippolyte, 2009. "Continuous-Time Overlapping Generations Models," TSE Working Papers 09-047, Toulouse School of Economics (TSE).
    21. Vincent, M. O. (MSc) & Udeorah, S. F. (Ph.D.), 2020. "Changes in Demography and Its Effect on Economic Growth in Developing Economies: Evidence from Selected African Countries," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 4(6), pages 403-412, June.

    More about this item

    Keywords

    Generational economy; national accounts;

    JEL classification:

    • C80 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - General
    • D10 - Microeconomics - - Household Behavior - - - General
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • J1 - Labor and Demographic Economics - - Demographic Economics

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hal:pseptp:hal-01305151. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Caroline Bauer (email available below). General contact details of provider: https://hal.archives-ouvertes.fr/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.