Generational Accounting in Spain: Has public sector grown too much?

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Generational Accounting in Spain: Has public sector grown too much?

Author Info

Eduardo Berenguer Comas
Holger Bonin
Bernd Raffelhuschen (Universitat de Barcelona)

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Eduard Berenguer

Abstract

This paper assesses the intergenerational stance of fiscal policy in Spain by using the method of Generational Accounting. It is found that both the demographic transition and the oustanding public debt induce net payments of future generations exceeding those of current newborns by approximately 370 percent. This severe generational imbalance can only be eliminated by rather immediate and significant policy changes including both tax increments and curs in public expenditure. In line with the current fiscal debates, we also investigate the impacts of policy reforms concerning the restructuring of social insurances and the broadening of the tax base in Spain.

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Publisher Info
Paper provided by Universitat de Barcelona. Espai de Recerca en Economia in its series Working Papers in Economics with number 30.

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Length: 0 pages
Date of creation: 1998
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Handle: RePEc:bar:bedcje:199830

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Postal: Espai de Recerca en Economia, Facultat de CiÃ¨ncies EconÃ²miques. Tinent Coronel Valenzuela, Num 1-11 08034 Barcelona. Spain.
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Find related papers by JEL classification:
H60 - Public Economics - - National Budget, Deficit, and Debt - - - General
E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy

Cited by:
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Holger Bonin & Joan Gil & Concepció Patxot, . "Beyond the Toledo agreement: The intergenerational impact of the Spanish pension reform," Studies on the Spanish Economy 38, FEDEA. [Downloadable!]
Other versions:
- Holger Bonin & Joan Gil Trasfi & Concepcion Patxot Cardoner, 1999. "Beyond the Toledo agreement: the intergenerational impact of the spanish pension reform," Working Papers in Economics 54, Universitat de Barcelona. Espai de Recerca en Economia. [Downloadable!]
- Holger Bonin & Joan Gil & Concepció Patxot, 2001. "Beyond the Toledo agreement: the intergenerational impact of the Spanish Pension Reform," Spanish Economic Review, Springer, vol. 3(2), pages 111-130. [Downloadable!] (restricted)

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