The economic life cycle

This chapter describes the methods for constructing National Transfer Accounts (NTA) variables that comprise the economic life cycle account: consumption, labour income and the life cycle deficit/surplus. Public and private consumption are distinguished as well as three purposes of consumption for each: education, health, and consumption other than education and health. Labour income is broadly measured consisting of earnings of employees including benefits and the labour income of self-employed persons including unpaid family workers.

Related Subject(s): Economic and Social Development