IDEAS home Printed from https://ideas.repec.org/a/fip/fedcer/y1997iqivp2-23.html
   My bibliography  Save this article

Generational accounts for the United States: an update

Author

Listed:
  • Jagadeesh Gokhale
  • Benjamin R. Page
  • John R. Sturrock

Abstract

An examination of the continuing generational imbalance in U.S. fiscal policy, showing that under current policy, future generations will have to pay almost half of their lifetime labor incomes in net taxes to balance the government's book--more than 70% greater than the 28.6% today's newborns are slated to give up.

Suggested Citation

  • Jagadeesh Gokhale & Benjamin R. Page & John R. Sturrock, 1997. "Generational accounts for the United States: an update," Economic Review, Federal Reserve Bank of Cleveland, issue Q IV, pages 2-23.
    • Handle: RePEc:fip:fedcer:y:1997:i:qiv:p:2-23
    as

    Download full text from publisher

    File URL: http://www.clevelandfed.org/research/review/1997/97-q4-gokhale.pdf
    Download Restriction: no
    File URL: https://fraser.stlouisfed.org/scribd/?toc_id=243344&filepath=/docs/publications/frbclevreview/rev_frbclev_1997q4.pdf&start_page=3#scribd-open
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Alan J. Auerbach & Jagadeesh Gokhale & Laurence J. Kotlikoff, 1991. "Generational Accounts: A Meaningful Alternative to Deficit Accounting," NBER Chapters, in: Tax Policy and the Economy, Volume 5, pages 55-110, National Bureau of Economic Research, Inc.
    2. Altonji, Joseph G & Hayashi, Fumio & Kotlikoff, Laurence J, 1992. "Is the Extended Family Altruistically Linked? Direct Tests Using Micro Data," American Economic Review, American Economic Association, vol. 82(5), pages 1177-1198, December.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Shimasawa, Manabu & Oguro, Kazumasa & Masujima, Minoru, 2014. "Population Aging, Policy Reforms, and Lifetime Net Tax Rate in Japan: A Generational Accounting Approach," CIS Discussion paper series 625, Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University.
    2. Carole Bonnet, 2002. "Comptabilité générationnelle appliquée à la France : quelques facteurs d'instabilité des résultats," Économie et Prévision, Programme National Persée, vol. 154(3), pages 59-78.
    3. SHIMASAWA Manabu & OGURO Kazumasa, 2016. "Will Abenomics Save Future Generations?," Discussion papers 16100, Research Institute of Economy, Trade and Industry (RIETI).
    4. Martin Larch & João Nogueira Martins, 2007. "Fiscal indicators - Proceedings of the the Directorate-General for Economic and Financial Affairs Workshop held on 22 September 2006 in Brussels," European Economy - Economic Papers 2008 - 2015 297, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    5. Harry Ter Rele & Claudio Labanca, 2012. "Lifetime Generational Accounts for the Netherlands," Fiscal Studies, Institute for Fiscal Studies, vol. 33(3), pages 399-427, September.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Kotlikoff, Laurence J., 2002. "Generational policy," Handbook of Public Economics, in: A. J. Auerbach & M. Feldstein (ed.), Handbook of Public Economics, edition 1, volume 4, chapter 27, pages 1873-1932, Elsevier.
    2. Feldstein, Martin, 1996. "The Missing Piece in Policy Analysis: Social Security Reform," American Economic Review, American Economic Association, vol. 86(2), pages 1-14, May.
    3. Antonio Rangel, 2005. "How to Protect Future Generations Using Tax-Base Restrictions," American Economic Review, American Economic Association, vol. 95(1), pages 314-346, March.
    4. Alan J. Auerbach & Jagadeesh Gokhale & Laurence J. Kotlikoff, 1995. "Restoring generational balance in U.S. fiscal policy: what will it take?," Economic Review, Federal Reserve Bank of Cleveland, issue Q I, pages 2-12.
    5. Martin Feldstein, 1998. "Introduction to "Privatizing Social Security"," NBER Chapters, in: Privatizing Social Security, pages 1-29, National Bureau of Economic Research, Inc.
    6. Alan J. Auerbach & Jagadeesh Gokhale & Laurence J. Kotlikoff, 1994. "Generational Accounting: A Meaningful Way to Evaluate Fiscal Policy," Journal of Economic Perspectives, American Economic Association, vol. 8(1), pages 73-94, Winter.
    7. Guillaume Allègre & Thomas Melonio & Xavier Timbeau, 2012. "Dépenses publiques d'éducation et inégalités. Une perspective de cycle de vie," Revue économique, Presses de Sciences-Po, vol. 63(6), pages 1055-1079.
    8. Alessandro Balestrino & Lisa Grazzini & Annalisa Luporini, 2017. "A normative justification of compulsory education," Journal of Population Economics, Springer;European Society for Population Economics, vol. 30(2), pages 537-567, April.
    9. Jacques Le Cacheux & Vincent Touzé, 2002. "Les modèles d'équilibre général calculable à générations imbriquées. Enjeux, méthodes et résultats," Revue de l'OFCE, Presses de Sciences-Po, vol. 80(1), pages 87-113.
    10. Xavier Ragot, 2005. "A theory of low inflation in a non Ricardian economy with credit constraints," PSE Working Papers halshs-00590788, HAL.
    11. Ea Hoppe Blaabæk & Mads Meier Jæger & Joseph Molitoris, 2020. "Family Size and Educational Attainment: Cousins, Contexts, and Compensation," European Journal of Population, Springer;European Association for Population Studies, vol. 36(3), pages 575-600, July.
    12. Marco Bassetto, 2009. "The Research Agenda: Marco Bassetto on the Quantitative Evaluation of Fiscal Policy Rules," EconomicDynamics Newsletter, Review of Economic Dynamics, vol. 10(2), April.
    13. Mr. Jacques Bouhga-Hagbe, 2004. "A Theory of Workers' Remittances with An Application to Morocco," IMF Working Papers 2004/194, International Monetary Fund.
    14. Attanasio, Orazio & Davis, Steven J, 1996. "Relative Wage Movements and the Distribution of Consumption," Journal of Political Economy, University of Chicago Press, vol. 104(6), pages 1227-1262, December.
    15. Buiter, Willem H., 1996. "Aspects of Fiscal Performance in some Transition Economies under Fund-supported Programs," CEPR Discussion Papers 1535, C.E.P.R. Discussion Papers.
    16. Raffelhüschen, Bernd & Hagist, Christian & Moog, Stefan & Vatter, Johannes, 2009. "Ehrbare Staaten? Die deutsche Generationenbilanz im internationalen Vergleich," Argumente zur Marktwirtschaft und Politik 107, Stiftung Marktwirtschaft / The Market Economy Foundation, Berlin.
    17. Raffelhüschen, Bernd & Seuffert, Stefan, 2020. "Ehrbarer Staat? Wege und Irrwege der Rentenpolitik im Lichte der Generationenbilanz," Argumente zur Marktwirtschaft und Politik 148, Stiftung Marktwirtschaft / The Market Economy Foundation, Berlin.
    18. Andrew D. Foster & Mark R. Rosenzweig, 2001. "Imperfect Commitment, Altruism, And The Family: Evidence From Transfer Behavior In Low-Income Rural Areas," The Review of Economics and Statistics, MIT Press, vol. 83(3), pages 389-407, August.
    19. Elmendorf, Douglas W. & Gregory Mankiw, N., 1999. "Government debt," Handbook of Macroeconomics, in: J. B. Taylor & M. Woodford (ed.), Handbook of Macroeconomics, edition 1, volume 1, chapter 25, pages 1615-1669, Elsevier.
    20. Ana Fernandes, 2011. "Altruism, labor supply and redistributive neutrality," Journal of Population Economics, Springer;European Society for Population Economics, vol. 24(4), pages 1443-1469, October.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fip:fedcer:y:1997:i:qiv:p:2-23. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: 4D Library (email available below). General contact details of provider: https://edirc.repec.org/data/frbclus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.