The Relationship Between Age Groups and Economics through an Extension of Miyazawa's Demographic-Economic Model
Journal Title: Journal of Economics, Finance and Management Studies - Year 2025, Vol 8, Issue 06
Abstract
The extension of W. Leontief's I.O system according to the consumption groups and corresponding income was proposed by K. Miyazawa and introduced by Geoffrey J.D. Hewings, Michael Sonis, Moss Madden and Yoshio Kimura (1999) [1] in the book entitled "Understanding and Interpreting Economic Structure". This concept has been applied in economic analysis quite a lot. This study was the first to successfully decompose the final consumption of households according to age groups. The implication of this study (1) shows that the population group that is not yet of working age or over working age is also useful for the economy and the income of other age groups through their consumption and the next implication (2) is that the non-production income of age groups that do not directly participate in production also spreads to the value-added output of the economy. Thus, the income of the working age group is needed not only for themselves but also for their children and parents. In Miyazawa's demographic-economic model, total income includes indigenous income (income from production) and exogenous income (property income and transfer income), so in that model, the transfer between age groups is considered to be zero. In this paper, the model demographic-economic model of Miyazawa can be extended with indigenous income was included production income and a part of exogenous (income receipted by transferring between age group). This problem is shown in Table 1
Authors and Affiliations
Trinh Bui , Phong Nguyen Viet , Nguyen Thi Thu Huong , Dang Thi Bich Hong , Trung Quang Dam,
Keywords
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- EP ID EP768302
- DOI 10.47191/jefms/v8-i6-11
- Views 10
- Downloads 0
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