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Generational Accounting as a Tool to Assess Fiscal Sustainability: An Overview of the Methodology

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Author Info

  • Bonin, Holger

    () (ZEW Mannheim)

  • Patxot, Concepció

    () (University of Barcelona)

Abstract

The paper surveys the methodology of generational accounting, a tool for gauging intertemporal imbalance in government finances facing demographic transition. Starting from the fiscal balance rule providing the theoretical background, we review the methods of generational accountants for generating empirical projections of the items building up to the intertemporal government budget. We debate indication of generational redistribution by lifetime expected net tax payments and several indicators for fiscal sustainability found in the literature. Finally, the performance of generational accounts, which ignore behavioral and policy dynamics, is compared with that of generational welfare indicators based on overlapping generations general equilibrium models.

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File URL: http://ftp.iza.org/dp990.pdf
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Bibliographic Info

Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 990.

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Length: 45 pages
Date of creation: Jan 2004
Date of revision:
Publication status: published in: E. Berenguer (ed.), Generational Accounting in Spain, Madrid: IFS, 2005, 27-66
Handle: RePEc:iza:izadps:dp990

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Related research

Keywords: fiscal sustainability; generational accounting; methodology; survey;

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References

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  1. Alan J. Auerbach & Jagadeesh Gokhale & Laurence J. Kotlikoff, 1994. "Generational Accounting: A Meaningful Way to Evaluate Fiscal Policy," Journal of Economic Perspectives, American Economic Association, vol. 8(1), pages 73-94, Winter.
  2. Laurence J. Kotlikoff, 1989. "Intergenerational Transfers and Savings," NBER Working Papers 2237, National Bureau of Economic Research, Inc.
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Cited by:
  1. Kamil Dybczak, 2006. "Generational Accounts in the Czech Republic (in English)," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 56(7-8), pages 298-317, July.
  2. Kamil Dybczak, 2006. "Generational Accounts in the Czech Republic," Working Papers 2006/2, Czech National Bank, Research Department.

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