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Indicators for Measuring Fiscal Sustainability: A Comparison of the OECD Method and Generational Accounting

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  • Ulrich Benz
  • Stefan Fetzer
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    Abstract

    Based on an empirical application for Germany, we compare two methods of measuring fiscal sustainability: the generational-accounting approach and the OECD method. In a first step, we show that the two methods can be transformed into one another. Hence, the indicators of generational accounting can be used for the OECD method and vice versa, thus enlarging the set of sustainability indicators for both methods. In a second step, we discuss these indicators with respect to their theoretical deficiencies, tangibility, and sensitivity. Finally, we come to the conclusion that a combination of indicators stemming from both approaches can give a more general and understandable description of fiscal sustainability and satisfy a strictly defined condition of sustainability at the same time.

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    Bibliographic Info

    Article provided by Mohr Siebeck, Tübingen in its journal FinanzArchiv.

    Volume (Year): 62 (2006)
    Issue (Month): 3 (September)
    Pages: 367-391

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    Handle: RePEc:mhr:finarc:urn:sici:0015-2218(200609)62:3_367:ifmfsa_2.0.tx_2-i

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    Web page: http://www.mohr.de/fa

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    Related research

    Keywords: fiscal sustainability; generational accounting; OECD method; sustainability indicators;

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    Cited by:
    1. Jabłonowski, Janusz & Müller, Christoph & Raffelhüschen, Bernd, 2010. "A fiscal outlook for Poland using generational accounts," FZG Discussion Papers 47, Research Center for Generational Contracts (FZG), University of Freiburg.
    2. Sachverständigenrat zur Begutachtung der Gesamtwirtschaftlichen Entwicklung (ed.), 2011. "Herausforderungen des demografischen Wandels. Expertise im Auftrag der Bundesregierung," Occasional Reports / Expertisen, German Council of Economic Experts / Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung, number 75371.
    3. Christian Hagist & Stefan Moog & Bernd Raffelhüschen & Johannes Vatter, 2009. "Public Debt and Demography - An International Comparison Using Generational Accounting," CESifo DICE Report, Ifo Institute for Economic Research at the University of Munich, vol. 7(4), pages 29-36, 01.
    4. Koch, Daniel, 2011. "Wirksame Begrenzung von Staatsverschuldung auf europäischer Ebene," Wirtschaftswissenschaftliche Beiträge 114, Julius-Maximilians-Universität Würzburg, Lehrstuhl für Volkswirtschaftslehre, insbes. Wirtschaftsordnung und Sozialpolitik.
    5. Hagist, Christian & Raffelhüschen, Bernd & Risa, Alf Erling & Vårdal, Erling, 2011. "Long-term fiscal effects of public pension reform in Norway: A generational accounting analysis," FZG Discussion Papers 49, Research Center for Generational Contracts (FZG), University of Freiburg.
    6. Cirsten Roppel & Ulrich Roppel, 2012. "Generative Einkommensverteilung und Generationenkonflikt," Ifo Schnelldienst, Ifo Institute for Economic Research at the University of Munich, vol. 65(14), pages 26-33, 07.

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