Age, period, and cohort effects
What is the APC identification problem?
2 min readJan 12, 2022
The book Generations by Bobby Duffy (KCL) highlights the import of generational thinking. All changes over time in attitudes, beliefs, and behaviour separate into three effects:
- Age effects: People change as they age, due to biological and social reasons. For example, life events like retirement can affect people. The book refers to these as ‘lifecycle effects’.
- Period effects: The change occurs in a consistent manner across all age groups. These effects are…