Sharing the Wealth

This book is a collection of papers by leading scholars whose research concerns economic transfers between generations. The issues addressed have great relevance to demographic issues, particularly the determination of fertility, to economic issues, including equity and growth, and to public policy, especially social security reform. Part I focuses on intergenerational features of the macroeconomy. Advances in the construct ion of generational accounts are described and used to examine how the magnitude and direction of intergenerational transfers influences demographic behaviour, the distribution of income and the accumulation of wealth. Studies presented in Part II consider the role of the state as a provider of economic security for the elderly. The authors draw on international experience and discuss many of the issues that must be confronted if efforts to reform public pension programs are to be successful. Part III considers the intergenerational behaviour of the family. The authors examine competing theories in both industrialized and developing country settings to consider how demographic change, the development of financial institutions, public policy and other economic forces influence the amount, form and timing of intergenerational transfers.