James Mahmud Rice, Jeromey Temple and Peter McDonald
With demographic and economic changes on the horizon, an understanding of the production and consumption behavior of all Australians, but mature age Australians in particular, is indispensible. This project seeks to enhance our understanding of the economic lifecycle by developing National Transfer Accounts (NTA) for Australia.
The formal definition of the NTA is "a system of macroeconomic accounts that measures current economic flows by age in a manner consistent with the United Nations System of National Accounts. NTA measures age- specific labour income, asset income, consumption, transfers and saving, accounting for flows within households, between households, through the public sector and with the rest of the world" (UN,2013).