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

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

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References

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  1. Kotlikoff, Laurence J, 1988. "Intergenerational Transfers and Savings," Journal of Economic Perspectives, American Economic Association, vol. 2(2), pages 41-58, Spring.
  2. 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.
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Cited by:
  1. Kamil Dybczak, 2006. "Generational Accounts in the Czech Republic," Working Papers 2006/2, Czech National Bank, Research Department.
  2. Damla Haciibrahimoglu & Pinar Derin-Gure, 2013. "Generational Accounting in Turkey," ERC Working Papers 1301, ERC - Economic Research Center, Middle East Technical University, revised Jan 2013.
  3. 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.
  4. Mark Connolly & Oleksandr Topachevskyi & Baudouin Standaert & Omayra Ortega & Maarten Postma, 2012. "The Impact of Rotavirus Vaccination on Discounted Net Tax Revenue in Egypt," PharmacoEconomics, Springer, vol. 30(8), pages 681-695, August.

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