Generational Accounting Around The World

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Generational Accounting Around The World

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Author : Alan J. Auerbach
language : en
Publisher: University of Chicago Press
Release Date : 2007-12-01

Generational Accounting Around The World written by Alan J. Auerbach and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-12-01 with Business & Economics categories.

The realities of mounting government debt, tax burdens, and an aging population raise serious concerns about the financial legacy confronting future generations. How great a fiscal burden will current policies leave to subsequent generations, and how might changes in those policies alter the intergenerational distribution of public welfare? Generational accounting has recently emerged as a robust new method of fiscal analysis and planning designed to assess the long-term sustainability of fiscal policy and to measure the extent of the financial load ultimately borne by present and future generations. A seminal contribution to public economics, generational accounting has already been adopted by 23 nations around the world. Combining the latest and most extensive country-by-country generational analyses with a comprehensive review of generational accounting's innovative methodology, these papers are a consummate resource for economists, political scientists, and policy makers concerned with fiscal health and responsibility.

An International Comparison Of Generational Accounts

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Author : Laurence J. Kotlikoff
language : en
Publisher:
Release Date : 1998

An International Comparison Of Generational Accounts written by Laurence J. Kotlikoff and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Budget deficits categories.

This paper summarizes findings reported in a forthcoming NBER volume entitled 'Generational Accounting Around the World.' This volume includes generational accounting studies for 17 countries. The findings are shocking. The world's leading industrial powers - the U.S., Japan, and Germany - all have severe imbalances in their generational policies. Unless currently living members of these countries pay more in net taxes or unless these countries cut their purchases of goods and services, future Americans, Japanese and Germans will face much higher rates of lifetime net taxation. Leaving current Americans untouched and maintaining the current projected time-path of government purchases will leave future Americans collectively facing about 50% higher net tax rates over their lifetimes than those facing a newborn American based on current U.S. tax-transfer policy. For future Germans, the imbalance means they would face lifetime net tax rates that are roughly twice as high as those now in place. And for future Japanese, policy inaction means lifetime net tax rates that are more than 2.5 times are high as current values. Other countries are also running imbalanced policies. Of the 17 countries studied here, five (Japan, Italy, Germany, The Netherlands, and Brazil) have extreme imbalances. Another five (the United States, Norway, Portugal, Argentina and Belgium) have severe imbalances. Three countries - Australia, Denmark and France - have substantial imbalances. Canada's appears to be essentially in generational balance. The remaining countries - New Zealand, Thailand, and Sweden - have negative imbalances; i.e. their policies, if maintained, would leave future generations facing lower lifetime net tax rates than current current newborns

Generational Accounting Around The Globe

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Author : Laurence J. Kotlikoff
language : en
Publisher:
Release Date : 1999

Generational Accounting Around The Globe written by Laurence J. Kotlikoff and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with categories.

Generational Accounting For France

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Author : Mr.Ousmane Dore
language : en
Publisher: International Monetary Fund
Release Date : 1998-02-01

Generational Accounting For France written by Mr.Ousmane Dore and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998-02-01 with Social Science categories.

This paper presents the first set of generational accounts prepared for France, illustrating the impact on different generations of current policy settings. It was developed using age profiles of taxes and transfers drawn from a 1990 survey and recent demographic projections. The results reported suggest that if all living generations were protected from future policy changes, current policy rules would imply a net tax burden on future generations more than 11⁄2 times as large as that on current newborn generations. If the assumption that young living generations are protected is relaxed, a large net-tax imbalance in favor of “babyboomers” emerges.

Generational Accounting

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Author : Holger Bonin
language : en
Publisher: Springer Science & Business Media
Release Date : 2013-03-14

Generational Accounting written by Holger Bonin and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-03-14 with Political Science categories.

Among the concepts used to assess the sustainability of fiscal policy in a changing demographic environment, generational accounting has become the most prominent. This book gives a complete and up-to-date introduction to the theory and practice of the method. It reveals deficiencies of the original residual concept and discusses various measures of intergenerational redistribution based on the recent sustainability approach to generational accounting. An application using data on German public finances serves to provide an in-depth explanation and practical illustration of the technique. The study develops new procedures to evaluate the fiscal externalities of migration and the redistribution of net wealth among living generations resulting from Social Security reform. The book is an indispensable source of reference for analysts employing generational accounting and for those wishing to study intertemporal redistribution through fiscal policy.

Population Aging And The Generational Economy

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Author : Ronald Demos Lee
language : en
Publisher: Edward Elgar Publishing
Release Date : 2011-01-01

Population Aging And The Generational Economy written by Ronald Demos Lee and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-01-01 with Social Science categories.

'While there already exists a crowded body of publications addressing the effect of an aging population on the economy, this monograph is most outstanding in presenting a global, in-depth analysis of the implications thereby generated for 23 developed and developing countries. . . Scholars, researchers, and practitioners everywhere will benefit immensely from this comprehensive work.' – H.I. Liebling, Choice 'Ron Lee and Andrew Mason's Population Aging and the Generational Economy is a demographic and economic tour-de-force. Their collaborative, intercontinental. . . study of aging, consumption, labor supply, saving, and private and public transfers is the place to go to understand global aging and its myriad and significant economic challenges and opportunities.' – Laurence Kotlikoff, Boston University, US 'The culmination of. . . work by Lee, Mason, and their collaborators from around the world to extend Samuelson's framework to accommodate realistic demography, empirical measurement of age-specific earnings, consumption, tax payments, and benefit receipts, the studies. . . demonstrate the power of this integrated economic-demographic framework to advance our understanding of critical public policy challenges faced by countries at different stages of demographic transition and population aging.' – Robert Willis, University of Michigan, US 'Lee and Mason have done scholars and practitioners a magnificent service by undertaking this comprehensive, compelling, and supremely innovative examination of the economic consequences of changes in population age structure. The book is a bona fide crystal ball. It will be a MUST READ for the next decade!' – David Bloom, Harvard School of Public Health, US 'Population Aging and the Generational Economy provides an encompassing account of what we know about population aging and the impact that this process will have on our economies. It does not confine itself to the advanced industrial countries, where aging has already been largely studied, but adopts a truly global perspective. I am sure it will become a key reference for researchers, students and those involved in policy-making in areas that are affected by population aging.' – Giuliano Bonoli, Swiss Graduate School of Public Administration (IDHEAP), Switzerland Over coming decades, changes in population age structure will have profound implications for the macroeconomy, influencing economic growth, generational equity, human capital, saving and investment, and the sustainability of public and private transfer systems. How the future unfolds will depend on key actors in the generational economy: governments, families, financial institutions, and others. This path-breaking book provides a comprehensive analysis of the macroeconomic effects of changes in population age structure across the globe. The result of a substantial seven-year research project involving over 50 economists and demographers from Africa, Asia, Europe, Latin America, and the United States, the book draws on a new and comprehensive conceptual framework – National Transfer Accounts – to quantify the economic lifecycle and economic flows across generations. It presents comprehensive estimates of both public and private economic flows between generations, and emphasizes the global nature of changes in population age structure that are affecting rich and poor countries alike. This unique and informative book will prove an invaluable reference tool for a wide-ranging audience encompassing students, researchers, and academics in fields such as demography, aging, public finance, economic development, macroeconomics, gerontology, and national income accounting; for policy-makers and advisers focusing on areas of the public sector such as education, health, pensions, other social security programs, tax policy, and public debt; and for policy analysts at international agencies such as the World Bank, the IMF, and the UN.

Generational Accounting

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Author : Laurence J. Kotlikoff
language : en
Publisher:
Release Date : 1993-10-25

Generational Accounting written by Laurence J. Kotlikoff and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993-10-25 with Business & Economics categories.

In an effort to bring all generations to an understanding of the American economy, Laurence Kotlikoff shares information of the budget deficit of the United States government. Generational Accounting strives to educate readers on how the economy of the United States American functions, from explaining who pays for the goods and services the nation receives to when it must be paid, and just how much money goes to it. Kotlikoff analyzes how the government’s budget deficit is the cornerstone of conventional economic policy and argues that it is a number devoid of economic content, often used to lead the American people astray. “Read it and you’ll be on the cutting edge of future debates on fiscal policy.” – Fortune

Generational Accounts Aggregate Savings And Intergenerational Distribution

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Author : Mr.Willem H. Buiter
language : en
Publisher: International Monetary Fund
Release Date : 1996-07-01

Generational Accounts Aggregate Savings And Intergenerational Distribution written by Mr.Willem H. Buiter and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996-07-01 with Business & Economics categories.

Are generational accounts informative about the effect of the budget on the intergenerational distribution of resources and on aggregate saving? First, the usefulness of generational accounts lives or dies with the strict life-cycle model of household consumption. Second, even if the life-cycle model holds, generational accounts ignore the intergenerational redistribution associated with the government’s provision of public goods and services and with intergenerational externalities. Third, generational accounting ignores the effect of the budget on tax and transfer bases and on before-tax incomes and prices. That is, it does not handle incidence or general equilibrium repercussions.

Generational Accounting

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Author : Laurence J. Kotlikoff
language : en
Publisher:
Release Date : 1992

Generational Accounting written by Laurence J. Kotlikoff and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992 with Business & Economics categories.

Proposes a new system of tracking who pays for today's federal expenditures and tells how to assess the long-term impact of government fiscal decisions

Generational Policy

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Author : Laurence J. Kotlikoff
language : en
Publisher: MIT Press
Release Date : 2003-11-07

Generational Policy written by Laurence J. Kotlikoff and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-11-07 with Business & Economics categories.

How generational policy affects the sustainability of a government's fiscal policy. In these eight 2002 Cairoli Lectures, presented at the Universidad Torcuato di Tella in Buenos Aires, Argentina, Laurence Kotlikoff shows how generational policy works, how it is measured, and how much it matters. Kotlikoff discusses the incidence and measurement of generational policy, the relationship of generational policy to monetary policy, and the vacuity of deficits, taxes, and transfer payments as economic measures of fiscal policy. Kotlikoff also illustrates generational policy's general equilibrium effects with a dynamic life-cycle simulation model and reviews the empirical evidence testing intergenerational altruism and risk sharing. The lectures were delivered as Argentina faced a devastating depression triggered, in large part, by unsustainable generational policy. Throughout the book, Kotlikoff connects his messages about generational policy to the Argentine situation and the Argentine government's policy mistakes.