Full Generational Accounts

What Do We Give to the Next Generation

Bibliographic Data

ID4122573
AuthorsRonald D Lee (0000-0001-9755-0436, Japan Real Estate Institute), Ronald Lee, David Mccarthy (0000-0001-7633-7409, Japan Real Estate Institute), James Sefton (0000-0003-2504-7211, Japan Real Estate Institute), Jože Sambt (0000-0001-7406-8882, Japan Real Estate Institute)
Year2017
Volume43
Issue4
Pages695-720
Publication date2017-12-01
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenuePopulation and Development Review (JOURNAL)
Journal identifiersISSN: 0098-7921 • E-ISSN: 1728-4457
PublisherWiley (PUBLISHER • GB)
DOI10.1111/padr.12113
OpenAlexW2769381467
LanguageEN
Citations received5
References cited9

What do we give to the next generation?Do we transfer wealth and human capital to our children, or do we saddle them with debt and obligations to support us in our old age?Standard Generational Accounts (GA) calculate the net present value of public sector taxes and benefits.Full Generational Accounts (FGA) add to this the present value of expected private transfers received over a lifetime, including parental costs of childrearing, bequests, and inter vivos transfers.We introduce three versions of FGA.Using data from National Transfer Accounts (NTA) we calculate FGAs for the US, where public transfers to children and the elderly are important, and for Taiwan, where the family plays a larger role in both.We decompose the FGA into public and private components, and into human capital investments (health, education), bequests, and other consumption.FGAs indicate substantial transfers to the generation born in 2010

Citation · Library science · Population · Sociology · Computer Science · Demography · Financial Literacy, Pension, Retirement Analysis · Global Health Care Issues · Insurance, Mortality, Demography, Risk Management

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