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Intra-Generational Conflict: The Role of Balanced Budget Rules

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  • Niepelt, Dirk

    ()
    (Institute for International Economic Studies, Stockholm University)

Abstract

A balanced budget requirement directly affects the intra-generational wealth distribution and influences the level of government spending. Both effects give rise to distributive conflicts that can explain why some groups support balanced budget rules while other groups in the same generation oppose them. Simulations suggest that such distributive conflicts are prevalent. I argue that intra-generational distributive conflicts offer a more convincing explanation for the observed partial support for balanced budget rules than alternative theories based on inter-generational conflict or efficiency considerations.

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Bibliographic Info

Paper provided by Stockholm University, Institute for International Economic Studies in its series Seminar Papers with number 722.

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Length: 26 pages
Date of creation: 08 Jul 2003
Date of revision:
Publication status: Forthcoming in European Economic Review.
Handle: RePEc:hhs:iiessp:0722

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Postal: Institute for International Economic Studies, Stockholm University, S-106 91 Stockholm, Sweden
Phone: +46-8-162000
Fax: +46-8-161443
Web page: http://www.iies.su.se/
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Related research

Keywords: balanced budget rules; intra-generational conflict; government spending; wealth distribution;

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  1. Hassler, John & Mora, Jose & Storesletten, Kjetil & Zilibotti, Fabrizio, 2002. "A positive theory of geographical mobility and social insurance," Seminar Papers 705, Stockholm University, Institute for International Economic Studies.
  2. Hassler, John & Mora, José V Rodríguez & Storesletten, Kjetil & Zilibotti, Fabrizio, 2001. "The Survival of the Welfare State," CEPR Discussion Papers 2905, C.E.P.R. Discussion Papers.
  3. Storesletten, Kjetil & Telmer, Chris & Yaron, Amir, 2002. "Asset pricing with idiosyncratic risk and overlapping generations," Seminar Papers 703, Stockholm University, Institute for International Economic Studies.
  4. Barro, Robert J, 1979. "On the Determination of the Public Debt," Journal of Political Economy, University of Chicago Press, vol. 87(5), pages 940-71, October.
  5. Kjetil Storesletten & Chris Telmer & Amir Yaron, 1997. "Consumption and risk sharing over the life cycle," GSIA Working Papers 228, Carnegie Mellon University, Tepper School of Business.
  6. Alberto Alesina & Roberto Perotti, 1994. "The Political Economy of Budget Deficits," NBER Working Papers 4637, National Bureau of Economic Research, Inc.
  7. Blanchard, Olivier J, 1985. "Debt, Deficits, and Finite Horizons," Journal of Political Economy, University of Chicago Press, vol. 93(2), pages 223-47, April.
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