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Boomers vs Millennials: Who Owes How Much to Whom?

  • Date 2020-11-17 (Tue)
  • Time 02:30 PM
  • Venue Conference Room C103
  • Presider Professor Terry Cheung
  • Speaker Professor An-Chi Tung
  • Background Professor Tung received her Ph.D. in Economics from University of California, Berkeley in 1988. She is currently an Associate Research Fellow at the Institute of Economics, Academia Sinica. Her research fields are Economic Growth and Development, Industrial Organization, International Economics.
  • Abstract In most parts of the world today, there is a generational divide. Some scholars point out that the “Boomer-blaming” debate is less about specific cohorts, but more about how the society tries to work through anxieties over bigger issues, such as pension crisis or wealth gap. Hence a rigorous economic analysis is the first step to address the issue.

    Here we examine quantitatively economic transfers across generations, using the National Transfer Accounts (NTA) data. We estimate lifetime net transfers mediated by the government, intra-familial transfers and bequests, following and extending the Generational Accounting method.

    We compare two cohorts in Taiwan, a Boomer (1951 cohort) and a Millennial (1981 cohort). To the contrary of common impression, preliminary findings suggest that the latter is hardly a loser relative to the former. We seek to explain why and to discuss how upcoming reforms and escalated uncertainties would alter these results.