microWELT: Microsimulation projection of indicators of the economic effects of population ageing based on disaggregated national transfer accounts

This paper studies how changes in the population composition by education and family characteristics impact on indicators of the economic effects of population ageing based on National Transfer Accounts (NTAs). NTAs constitute cross-sectional per-capita age-profiles of the key variables of national accounts consumption, income, saving, and public transfers, incorporating an estimation of private transfers. A variety of indicators based on NTA data combined with population projections was developed in the literature, of which we have selected two for our analysis: the Support Ratio (SR) and the Impact Index (IMP). We complement existing projections by using new disaggregated NTA data by education and family type, contrasting the results to the same indicators based on NTAs by age. Our projection analysis is performed using the dynamic microsimulation model microWELT. The model provides the required detailed socio-demographic projections and incorporates the NTA accounting framework. Our results show that indicators based on disaggregated data can give a very distinct picture of the economic effects of population ageing, as the burden of ageing is alleviated by the education expansion. Our study compares results for Austria and Spain

Historical patterns of unpaid work in Europe: NTTA results by age and gender. Vienna Yearbook of Population Research|Vienna Yearbook of Population Research 2019|

This paper presents an analysis of the age patterns of production, consumption, and net transfers in the form of unpaid work by gender over time. Using the National Time Transfer Accounts (NTTA) methodology, we briefly analyse complete historical results for several European countries. Our main aim is to introduce historical NTTA results, which are freely available to the public for further usage on the AGENTA database. The results of our analysis show that the evolution of age patterns over time differed between men and women, and was highly affected by different demographic trends, as well as by the specific institutional background of each country. Our findings indicate that despite the differences in age patterns over time and across countries, two main characteristics of these patterns did not change: i.e. transfers of unpaid work flowed first from women to men, and second from the working-age population to children and – to a lesser extent – to the elderly

Six Ways Population Change Will Affect the Global Economy

New estimates of economic flows by age combined with population projections show that in the coming decades (1) global GDP growth could be slower by about 1 percentage point per year, declining more sharply than population growth; (2) GDP will shift toward sub-Saharan Africa more than population trends suggest; (3) living standards of working-age adults may be squeezed by high spending on children and seniors; (4) changing population age distribution will raise living standards in many lower-income nations; (5) changing economic life cycles will amplify the economic effects of population aging in many higher income economies; and (6) population aging will likely push public debt, private assets, and perhaps productivity higher. Population change will have profound implications for national, regional, and global economies