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.

Contents: Preface PART I: FUNDAMENTAL PRINCIPLES AND CONCEPTS 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 PART II: COMPARATIVE ANALYSES OF AGE AND THE MACROECONOMY 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 PART III: COUNTRY STUDIES OF AGE AND THE MACROECONOMY 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 Malačič 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 Maliki 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 PART IV: APPENDIX TABLES Glossary Index

‘While there already exists a crowded body of publications addressing the effect of an aging population on the economy, this monograph is most outstanding in presenting a global, in-depth analysis of the implications thereby generated for 23 developed and developing countries. . . Scholars, researchers, and practitioners everywhere will benefit immensely from this comprehensive work.’