Population aging in Canada: What the lifecycle deficit profiles are telling us about living standards?

The appendix details the calculation of the aggregates and the age profiles for Canada between 1998 and 2013. [...] The per capita increase of the surplus of labour income over consumption of the working age groups is insufficient to compensate for the increase of the lifecycle deficits among the young and old. [...] Yet, this aggregate effect is due to the change of the age structure of the population during that period, and in particular, of the contribution of the baby-boom generations that were in the second half of their professional career during that period. [...] The decomposition of the GDP and the adjustment for statistical discrepancies (Step 1 and 2) are calculated from the GDP expenditure-base table (CANSIM 384-0038) and the current and capital accounts (CANSIM 380-0072) for the left part of the equation and from the GDP income-base table (CANSIM 384-0037) for the right part of the equation. [...] First, we regress the value of rents paid by tenants on a set of variables including characteristics of the household (age of the husband or age of the reference person), the characteristics of the dwelling (type of accommodation, year of construction, number of rooms etc.) and the location (sixteen metropolitan areas and a subdivision of non-metropolitan areas with respect to the urban size).