Journal article
Ageing and the economic life cycle: The National Transfer Accounts approach
JB Temple, JM Rice, PF McDonald
Australasian Journal on Ageing | WILEY | Published : 2017
DOI: 10.1111/ajag.12486
Abstract
Objective: To illustrate the use of National Transfer Accounts (NTA) for understanding ageing and the economic life cycle in Australia. Methods: The NTA methodology is applied utilising a range of unit record, demographic and administrative data sets from 1981 to 2010. Results: During early and later life, total consumption (public and private) is greater than labour income. On a time series and cohort basis, we show that each successive generation has improved their level of well-being (as measured by consumption) relative to the previous years or previous cohorts from 1981 to 1982 onwards. We also show a substantial increase in labour income earned by mature age workers over this period. I..
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Grants
Awarded by Australian Research Council
Funding Acknowledgements
The Australian NTA forms part of a large international effort led by the East-West Center and the Center for the Economics and Demography of Aging, University of California at Berkley. Further information is available at: http://www.ntaaccounts.org. Funding for the development of the Australian NTA has been provided by the National Health and Medical Research Council and the Australian Research Council through an Ageing Well, Ageing Productively Research Program grant (ID 401158) and the Australian Research Council's Centre of Excellence in Population Ageing Research (CE1101029). Funding for this study has also been made available by the Australian Department of Social Services. Numerous Australian Bureau of Statistics (ABS) sample survey data sets were made available to the authors by the ABS. The opinions expressed herein do not reflect those of the ABS or funders of this research. The authors declare no conflicts of interest.