Households and welfare states both serve as vehicles of lifecycle financing through intergenerational transfers. Working-age people are net contributors, children and the elderly are net beneficiaries. However, there is a marked asymmetry in the socialization of intergenerational transfers....

Households and social policies both serve as vehicles of lifecycle financing through intergenerational transfers, with working-age people as net contributors and children and the elderly as beneficiaries. However, there is a marked socialization asymmetry. Working-age people pay taxes and social...

The economic life cycle is characterised by three distinct phases: two phases of economic dependence and one phase of economic independence. In most societies, children consume resources generated by adults, transferred to them by family or by the public sector. The elderly, in turn, possess an...

This paper has two parts. The first part presents and discusses the 2011 Philippine National Transfer Accounts (NTA) estimates for selected flow accounts components, the most recent estimates available for the country, and compares the 2011 to the 1991 and 1999 estimates. The second part, also...

This paper describes the revised national level estimates of the 2007 Philippines NTA. The differences between the previous and the revised 2007 Philippines NTA Flow Accounts estimates are due to the change in the treatment of overseas Filipino workers` (OFW) remittances: treated as...