Generational Accounting versus Computable General Equilibrium
Abstract
Generational Accounting is only a shortcut to a general equilibrium analysis because it is assumed that individual decisions are unaffected by policy reforms. Nonetheless only two studies examine the accuracy of Generational Accounting, but Fehr and Kotlikoff (1996) consider changes in individual decisions and current tax adaptations to balance the Budget. Thus their approach is inappropriate as a means to compare both methods as they are used in reality. Raffelhüschen and Risa (1997) use a very simple model and simulate very stylized policy changes. So we need to carry out a new examination. Our examples are the recent fiscal reforms in Germany which encompass an income tax reform and a pension reform. The findings are that Generational Accounting is a bad shortcut for the incidence of the income tax reform, but gives a good impression of the quality and sign of the incidence for all but the younger cohorts in the case of the pension reform, and that the Fehr and Kotlikoff approach is misleading.Download Info
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Bibliographic Info
Article provided by Mohr Siebeck, Tübingen in its journal FinanzArchiv.
Volume (Year): 58 (2001)
Issue (Month): 3 (July)
Pages: 227-
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Web page: http://www.mohr.de/fa
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Related research
Keywords:Find related papers by JEL classification:
- D58 - Microeconomics - - General Equilibrium and Disequilibrium - - - Computable and Other Applied General Equilibrium Models
- H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
- H24 - Public Economics - - Taxation, Subsidies, and Revenue - - - Personal Income and Other Nonbusiness Taxes and Subsidies
- H62 - Public Economics - - National Budget, Deficit, and Debt - - - Deficit; Surplus
- J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
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Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.Cited by:
- Concepción Patxot & Elisenda Renteria & Miguel Sánchez Romero & Guadalupe Souto, 2012.
"Measuring the balance of government intervention on forward and backward family transfers using NTA estimates: the modified Lee Arrows,"
MPIDR Working Papers
WP-2012-015, Max Planck Institute for Demographic Research, Rostock, Germany.
- Concepció Patxot & Elisenda Rentería & Miguel Romero & Guadalupe Souto, 2012. "Measuring the balance of government intervention on forward and backward family transfers using NTA estimates: the modified Lee arrows," International Tax and Public Finance, Springer, vol. 19(3), pages 442-461, June.
- Veronika Deeg & Christian Hagist & Stefan Moog, 2009. "The fiscal outlook in Austria: an evaluation with Generational Accounts," Empirica, Springer, vol. 36(4), pages 475-499, November.
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