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Discover what demographics can tell us about the economy, markets, and the future  In Demographics Unravelled, renowned Macro-Demographics expert Amlan Roy delivers an insightful and timely exploration of the impact that \"people characteristics\" have on national economies. Considering factors like gender, race, migrant status, family background, and education, the author delves deeply into a subject that drives market behavior and economic variables, including growth, debt, inflation, employment, and productivity. These have national and international policy implications.  In this one-of-a-kind book, you'll discover:  Why the study of demographics is the hidden key to understanding economic growth, asset prices, and capital flows  How to use detailed demographics to forecast future scenarios in economics, socioeconomics, geopolitics, and the environment  The short-, medium-, and long-term effects of consumer and worker behavior  How understanding demographics is key to understanding health, pensions, migration, sustainability and social policies. It is intimately linked to the Sustainable Development Goals of the UN-Gender, Climate, Poverty and Inequality  Perfect for institutional investors, insurance professionals, economists, and business leaders, Demographics Unravelled will also earn a place in the libraries of academics and students studying a variety of economic disciplines and seeking a one-stop and in-depth discussion of demographics-driven macroeconomic effects. 

Virtually unnoticed in the contentious national debate over immigration is the significant demographic change about to occur as the first wave of the Baby Boom generation retires, slowly draining the workforce and straining the federal budget to the breaking point. In this forward-looking new book, noted demographer Dowell Myers proposes a new way of thinking about the influx of immigrants and the impending retirement of the Baby Boomers. Myers argues that each of these two powerful demographic shifts may hold the keys to resolving the problems presented by the other. Immigrants and Boomers looks to California as a bellwether state — where whites are no longer a majority of the population and represent just a third of residents under age twenty — to afford us a glimpse into the future impact of immigration on the rest of the nation. Myers opens with an examination of the roots of voter resistance to providing social services for immigrants. Drawing on detailed census data, Myers demonstrates that long-established immigrants have been far more successful than the public believes. Among the Latinos who make up the bulk of California’s immigrant population, those who have lived in California for over a decade show high levels of social mobility and use of English, and 50 percent of Latino immigrants become homeowners after twenty years. The impressive progress made by immigrant families suggests they have the potential to pick up the slack from aging boomers over the next two decades. The mass retirement of the boomers will leave critical shortages in the educated workforce, while shrinking ranks of middle-class tax payers and driving up entitlement expenditures. In addition, as retirees sell off their housing assets, the prospect of a generational collapse in housing prices looms. Myers suggests that it is in the boomers’ best interest to invest in the education and integration of immigrants and their children today in order to bolster the ranks of workers, taxpayers, and homeowners America they will depend on ten and twenty years from now. In this compelling, optimistic book, Myers calls for a new social contract between the older and younger generations, based on their mutual interests and the moral responsibility of each generation to provide for children and the elderly. Combining a rich scholarly perspective with keen insight into contemporary political dilemmas, Immigrants and Boomers creates a new framework for understanding the demographic challenges facing America and forging a national consensus to address them. DOWELL MYERS is professor of urban planning and demography at the University of Southern California.

The US tolerates more inequality than Europe and believes its economic mobility is greater than Europe's, though they had roughly equal rates of intergenerational occupational mobility in the late twentieth century. We extend this comparison into the nineteenth century using 10,000 nationally-representative British and US fathers and sons. The US was more mobile than Britain through 1900, so in the experience of those who created the US welfare state in the 1930s, the US had indeed been \"exceptional.\" The US mobility lead over Britain was erased by the 1950s, as US mobility fell from its nineteenth century levels.

The timings of historical fertility transitions in different regions are well understood by demographers, but much less is known regarding their specific features and causes. In the study reported in this paper, we used longitudinal micro-level data for five local populations in Europe and North America to analyse the relationship between socio-economic status and fertility during the fertility transition. Using comparable analytical models and class schemes for each population, we examined the changing socio-economic differences in marital fertility and related these to common theories on fertility behaviour. Our results do not provide support for the hypothesis of universally high fertility among the upper classes in pre-transitional society, but do support the idea that the upper classes acted as forerunners by reducing their fertility before other groups. Farmers and unskilled workers were the latest to start limiting their fertility. Apart from these similarities, patterns of class differences in fertility varied significantly between populations.

The nineteenth century witnessed dramatic improvements in the legal rights of married women. Given that they took place long before women gained the right to vote, these changes amounted to a voluntary renunciation of power by men. In this paper, we investigate men's incentives for sharing power with women. In our model, women's legal rights set the marital bargaining power of husbands and wives. We show that men face a trade-off between the rights they want for their own wives (namely none) and the rights of other women in the economy. Men prefer other men's wives to have rights because men care about their own daughters and because an expansion of women's rights increases educational investments in children. We show that men may agree to relinquish some of their power once technological change increases the importance of human capital. We corroborate our argument with historical evidence on the expansion of women's rights in England and the United States.

The United States is in the midst of a major demographic shift. In the coming decades, people aged 65 and over will make up an increasingly large percentage of the population: The ratio of people aged 65+ to people aged 20-64 will rise by 80%. This shift is happening for two reasons: people are living longer, and many couples are choosing to have fewer children and to have those children somewhat later in life. The resulting demographic shift will present the nation with economic challenges, both to absorb the costs and to leverage the benefits of an aging population. Aging and the Macroeconomy: Long-Term Implications of an Older Population presents the fundamental factors driving the aging of the U.S. population, as well as its societal implications and likely long-term macroeconomic effects in a global context. The report finds that, while population aging does not pose an insurmountable challenge to the nation, it is imperative that sensible policies are implemented soon to allow companies and households to respond. It offers four practical approaches for preparing resources to support the future consumption of households and for adapting to the new economic landscape.