A transition in a Third World society from a system of familial support for the elderly to a system of individual responsibility through saving and investment would have effects in some respects similar to a transition from a Pay As You Go public pension system to a funded system. Such a...

Population aging produces changes in the availability of kin with uncertain implications for extended living arrangements. We propose a highly stylized model that can be used to analyze and project age-specific proportions of adults living in extended and nuclear households. The model is applied...

In all societies intergenerational transfers are large and have an important influence on inequality and growth. The development of each generation of youth depends on the resources that it receives from productive members of society for health, education, and sustenance. The well-being of the...