A presentation of Generational Accounting in Norway
AbstractThe aim of this paper is to describe why generational accounting may be of special interest in evaluating the fiscal stance in a country like Norway, a small open economy with large public wealth. The paper describes how results from the exercise have changed over time, and discusses some items that have been incorporated in the calculations. Finally, it presents an alternative to the standard modelling approach for government purchases of goods and services (public consumption). While the importance of public consumption varies between countries, the paper shows that in a country where the level og public purchases is high, the sensitivity to alternative approaches is large.
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Bibliographic InfoArticle provided by Nordic Journal of Political Economy in its journal Nordic Journal of Political Economy.
Volume (Year): 28 (2002)
Issue (Month): ()
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Web page: http://www.nopecjournal.org
Find related papers by JEL classification:
- E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
- H4 - Public Economics - - Publicly Provided Goods
- H6 - Public Economics - - National Budget, Deficit, and Debt
- J1 - Labor and Demographic Economics - - Demographic Economics
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- Alan J. Auerbach & Jagadeesh Gokhale & Laurence J. Kotlikoff, 1991.
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- Alan J. Auerbach & Jagadeesh Gokhale & Laurence J. Kotlikoff, 1991. "Generational Accounts - A Meaningful Alternative to Deficit Accounting," NBER Working Papers 3589, National Bureau of Economic Research, Inc.
- Steigum, E-Jr & Gjersem, C-E, 1997.
"Generational Accounting and Depletable Natural Resources : The Case of Norway,"
3/97, Norwegian School of Economics and Business Administration-.
- Erling Steigum, Jr & Carl Gjersem & Willi Leibfritz, 1999. "Generational Accounting and Depletable Natural Resources: The Case of Norway," NBER Chapters, in: Generational Accounting around the World, pages 369-396 National Bureau of Economic Research, Inc.
- Braconier, Henrik & Holden, Steinar, 1999. "The Public Budget Balance - Fiscal Indicators and Cyclical Sensitivity in the Nordic Countries," Working Paper 67, National Institute of Economic Research.
- Thai-Thanh Dang & Pablo Antolín & Howard Oxley, 2001. "Fiscal Implications of Ageing: Projections of Age-Related Spending," OECD Economics Department Working Papers 305, OECD Publishing.
- Christian Hagist & Bernd Raffelhüschen & Alf Erling Risa & Erling Vårdal, 2013. "Long-Term Fiscal Effects of Public Pension Reform in Norway – A Generational Accounting Analysis," Nordic Journal of Political Economy, Nordic Journal of Political Economy, vol. 38, pages 2.
- 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.
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