This paper starts with a review of the three demographic components, stressing the decline in fertility, with the possibility of reaching below replacement fertility. Studies on new trends in Brazilian out migration are considered relevant for future research. The demography of compositional effects is discussed in terms of an exercise with the fertility differentials by mother’s education. The exercise shows that the historical improvement in mother’s education compensated the possible adverse effects of high fertility among low educated mothers. The demographic dividend is discussed both conceptually and empirically, pointing to new directions for future studies. Finally, the paper presents a conceptual discussion about intergenerational transfers, with emphasis in public expenditure and social policy. New studies being developed on this topic are mentioned.
below replacement fertility, demographic dividend, intergenerational transfers, education, social security
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