NTA2020 Mason_a

Global Meeting on Population and the Generational Economy, August 2020

Presentation: Andrew Mason, Michael Abrigo, Hawaii's Generational Economy: Lull before the storms

Abstract

The resources available at each stage of life vary considerably. The young depend on transfers from others – primarily their parents, but also taxpayers. Young and middle-aged adults rely on resources from work. While later in life income from assets and public transfers are crucial. Although these broad features of the lifecycle are widely appreciated, data about how resources vary with age have been available only recently for the US and not available in a comprehensive fashion for states until now. Our analysis for Hawaii considers a period of calm and provides baseline estimates of the resources available to people at each age. Turbulent times are coming, however. Recession is inevitable with effects that may vary widely across generations. Population aging will also have important effects that will play out over decades but with long-lasting implications.

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