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A presentation of Generational Accounting in Norway

Author

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  • Carl E. Gjersem

Abstract

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.

Suggested Citation

  • Carl E. Gjersem, 2002. "A presentation of Generational Accounting in Norway," Nordic Journal of Political Economy, Nordic Journal of Political Economy, vol. 28, pages 61-73.
  • Handle: RePEc:noj:journl:v:28:y:2002:p:61-73
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    File URL: http://www.nopecjournal.org/NOPEC_2002_a05.pdf
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    References listed on IDEAS

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    1. 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.
    2. 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.
    3. Braconier, Henrik & Holden, Steinar, 1999. "The Public Budget Balance - Fiscal Indicators and Cyclical Sensitivity in the Nordic Countries," Working Papers 67, National Institute of Economic Research.
    4. Erling Steigum, Jr & Carl Gjersem & Willi Leibfritz, 1999. "Generational Accounting and Depletable Natural Resources: The Case of Norway," NBER Chapters,in: Generational Accounting around the World, pages 369-396 National Bureau of Economic Research, Inc.
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    Cited by:

    1. Christian Hagist & Bernd Raffelhüschen & Alf Erling Risa & Erling Vårdal, 2013. "Long-Term Fiscal Effects of Public Pension Reform in Norway – A Generational Accounting Analysis," Nordic Journal of Political Economy, Nordic Journal of Political Economy, vol. 38, pages 1-2.
    2. repec:noj:journl:v:38:y:2013:p:2 is not listed on IDEAS

    More about this item

    JEL classification:

    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
    • H4 - Public Economics - - Publicly Provided Goods
    • H6 - Public Economics - - National Budget, Deficit, and Debt
    • J1 - Labor and Demographic Economics - - Demographic Economics

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