Measuring the lifecycle impact of welfare state policies in the face of ageing

Martin Spielauer, Gerard Horvath, Marian Fink, Gemma Abio, Guadalupe Souto, Concepció Patxot and Tanja Istenič

Economic Analysis and Policy, 2022, vol. 75, issue C, 1-25

Abstract: This research investigates how the interplay between demographics, economics and welfare state transfers affects the impact of the ageing process on income redistribution, at both intra and intergenerational levels. We combine different EU comparable data sources with microsimulation techniques in order to measure how agents resort to the three available resource allocation devices over their lifecycle (asset market and public and private transfers), extending the National Transfer Accounts (NTA) methodology at the micro level. Agents are heterogeneous in age, gender, education level and family type. Simulating population dynamics at the micro level allows us to capture not only the ageing process but also the educational transition and the change in family structures occurring in parallel. The resulting projection model allows us to simulate the lifetime net transfers received by individuals from the government and the family, and to compute the adjustment needed to keep the sustainability of the welfare system.

Keywords: Intergenerational transfers; Family transfers; Education; Demographic change; National Transfer Accounts; Generational Accounting (search for similar items in EconPapers)
JEL-codes: C53 E01 J11 O57 P51 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecanpo:v:75:y:2022:i:c:p:1-25

DOI: 10.1016/j.eap.2022.05.002

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