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Fiscal Policy and Educational Attainment in the United States: A Generational Accounting Perspective

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  • XAVIER CHOJNICKI
  • FREDERIC DOCQUIER

Abstract

In this paper we investigate the consequences of the rise in educational attainment on US generational accounts. We build on the 1995 existing accounts and disaggregate them per schooling level. Contrary to medium- and high-skill newborns, we show that low-skill newborns are characterized by negative generational accounts. Compared to the results obtained with the traditional methodology, our baseline forecast is more optimistic. Nevertheless, the rise in educational attainment is not strong enough to restore the generational balance. Balancing the budget requires increasing taxes by 1.2% or reducing transfers by 2.7%. Our results are robust to the main assumptions. Copyright (c) The London School of Economics and Political Science 2006.

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File URL: http://www.blackwell-synergy.com/doi/abs/10.1111/j.1468-0335.2006.00546.x
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Bibliographic Info

Article provided by London School of Economics and Political Science in its journal Economica.

Volume (Year): 74 (2007)
Issue (Month): 294 (05)
Pages: 329-350

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Handle: RePEc:bla:econom:v:74:y:2007:i:294:p:329-350

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  1. Philip Oreopoulos & Alan J. Auerbach, 1999. "Analyzing the Fiscal Impact of U.S. Immigration," American Economic Review, American Economic Association, vol. 89(2), pages 176-180, May.
  2. M. Dolores Collado & Iñigo Iturbe Ormaetxe & Guadalupe Valera, 2002. "Quantifying The Impact Of Immigration On The Spanish Welfare State," Working Papers. Serie AD 2002-04, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
  3. Robert Haveman, 1994. "Should Generational Accounts Replace Public Budgets and Deficits?," Journal of Economic Perspectives, American Economic Association, vol. 8(1), pages 95-111, Winter.
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Cited by:
  1. Luca Marchiori, 2011. "Demographic Trends and International Capital Flows in an Integrated World," CREA Discussion Paper Series 11-05, Center for Research in Economic Analysis, University of Luxembourg.
  2. Guillaume Allegre & Thomas Mélonio & Xavier Timbeau, 2010. "Dépenses publiques d’éducation et inégalités Une perspective de cycle de vie," Documents de Travail de l'OFCE 2010-06, Observatoire Francais des Conjonctures Economiques (OFCE).
  3. repec:spo:wpecon:info:hdl:2441/5l6uh8ogmqildh09h84a0it2m is not listed on IDEAS

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