Corrections to Population Aging and the Generational Economy are reported here. Also National Transfer Accounts estimates are frequently evaluated and updated. As this occurs tables and figures presented in Population Aging and the Generational Economy and the National Transfer Account Data Sheet are revised. The updated information is reported here as it becomes available.
Consumption by children
Table 1.1 summarizes consumption by children (ages 0-24) using synthetic cohort values. New estimates for China and India have become available and are reported here. Also the total health and education consumption by children was incorrectly calculated and revised values are reported here.
Tradeoff between human capital and fertility
Figure 1.6 has been updated to incorporate changes in estimates for China. This figure is drawn from NTA Bulletin No. 3.
Support system for the elderly
Figure 1.7 has been updated to incorporate estimates for China and India that were not available at the time of publication. This figure is drawn from NTA Bulletin No. 3.
Equation 2.1 and 2.4 have an error. The term in brackets should be [c(a)-yl(a)].