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Familial Transfers and Generational Equity: An Introduction to National Transfer Accounts

This project aims to develop a system of national accounts that incorporates age into National Income and Product Accounts, estimating consumption and production, intergenerational reallocations, and the accumulation of assets. It also studies family support systems and public programs for education, health, and pensions. The project is expanding to include China, India, the Philippines, and Thailand, with an international conference planned for 2007.

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Familial Transfers and Generational Equity: An Introduction to National Transfer Accounts

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  1. Familial Transfers and Generational Equity: An Introduction to National Transfer Accounts Andrew Mason East-West Center Andrew Mason, East-West Center

  2. Project Overview • Develop and apply a system of national accounts that • Incorporate age into National Income and Product Accounts • Estimates of consumption and production • Estimates of intergenerational reallocations • Saving and the accumulation of other assets • Public programs, e.g., education, health, pensions • Family support systems for children and elderly Andrew Mason, East-West Center

  3. Organization Andrew Mason, East-West Center

  4. New Initiative • NUPRI in collaboration with EWC and CEDA • Extend project to include China, India, the Philippines, and Thailand • International Conference in 2007 • Funding request to UNFPA Andrew Mason, East-West Center

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  8. Objectives • Construct historical estimates and projections of the age profiles of production, consumption, and the lifecycle deficit. • Explain how they are influenced by • social • economic, and • demographic factors. Andrew Mason, East-West Center

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  11. Reallocation Systems • Systems that shift resources across age groups – from workers to dependent children and elderly • Features of reallocation systems • Market and non-market • Public and Private • Economic form • Saving and investment • Consumer credit • Transfers Andrew Mason, East-West Center

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  14. Source: Mason, Lee, Tung, and Lai. Andrew Mason, East-West Center

  15. Family reallocations include bequests. Bequests were approximately 74% of non-bequest family transfers in Taiwan and approximately 340% in the US. Source: Mason, Lee, Tung, and Lai. Andrew Mason, East-West Center

  16. Concluding Comments • Estimates presented here are preliminary and subject to change. • Differences between countries are consistent with our expectations. • Systematic quantification will facilitate important research on alternative support systems and public policy. Andrew Mason, East-West Center

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