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A presentation of Generational Accounting in Norway

  • Carl E. Gjersem

The 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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File URL: http://www.nopecjournal.org/NOPEC_2002_a05.pdf
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Article provided by Nordic Journal of Political Economy in its journal Nordic Journal of Political Economy.

Volume (Year): 28 (2002)
Issue (Month): ()
Pages: 61-73

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Handle: RePEc:noj:journl:v:28:y:2002:p:61-73
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  1. 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.
  2. Alan J. Auerbach & Jagadeesh Gokhale & Laurence J. Kotlikoff, 1991. "Generational Accounts: A Meaningful Alternative to Deficit Accounting," NBER Chapters, in: Tax Policy and the Economy, Volume 5, pages 55-110 National Bureau of Economic Research, Inc.
  3. Steigum, E-Jr & Gjersem, C-E, 1997. "Generational Accounting and Depletable Natural Resources : The Case of Norway," Papers 3/97, Norwegian School of Economics and Business Administration-.
  4. 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.
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