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Generational Accounting in a Small Open Economy

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  • Lundvik, Petter

    (National Institute of Economic Research)

Abstract

The general government in Sweden runs an enormous current budget deficit and the public debt is increasing rapidly. The paper investigates the effects of a stabilization of the economy for different generations. The results for Sweden show that it is feasible to pay back the public debt and still have an increasing disposable lifetime income in the future. The main reason why future generations are going to be better off than the current ones is that the increase in wages, due to growth in productivity, completely dominates over the reallocation between generations through the public sector. However, for most sustainable stabilization policies, individuals born before 1925 have to pay less in taxes than they get back in transfers, pensions and public goods, while individuals born after 1925 have to pay more than they get in return.

Suggested Citation

  • Lundvik, Petter, 1996. "Generational Accounting in a Small Open Economy," Working Papers 49, National Institute of Economic Research.
    • Handle: RePEc:hhs:nierwp:0049
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    Cited by:

    1. Marcus Mossfeldt & Par Osterholm, 2011. "The persistent labour-market effects of the financial crisis," Applied Economics Letters, Taylor & Francis Journals, vol. 18(7), pages 637-642.
    2. Lindén, Johan, 2004. "The Labor Market in KIMOD," Working Papers 89, National Institute of Economic Research.
    3. P�r Österholm, 2014. "Survey data and short-term forecasts of Swedish GDP growth," Applied Economics Letters, Taylor & Francis Journals, vol. 21(2), pages 135-139, January.
    4. Österholm, Pär, 2013. "Forecasting Business Investment in the Short Term Using Survey Data," Working Papers 131, National Institute of Economic Research.
    5. Gren, Ing-Marie, 2003. "Monetary Green Accounting and Ecosystem Services," Working Papers 86, National Institute of Economic Research.
    6. Lindström, Tomas, 2003. "The Role of High-Tech Capital Formation for Swedish Productivity Growth," Working Papers 83, National Institute of Economic Research.
    7. Forslund, Johanna & Samakovlis, Eva & Vredin Johansson, Maria, 2006. "Matters Risk? The Allocation of Government Subsidies for Remediation of Contaminated Sites under the Local Investment Programme," Working Papers 94, National Institute of Economic Research.
    8. Jan-Erik Antipin & Farid Jimmy Boumediene & Pär Österholm, 2014. "On the Usefulness of Constant Gain Least Squares when Forecasting the Unemployment Rate," Applied Economics Quarterly (formerly: Konjunkturpolitik), Duncker & Humblot GmbH, Berlin, vol. 60(4), pages 315-336.
    9. Boman, Mattias & Huhtala, Anni & Nilsson, Charlotte & Alroth, Sofia & Bostedt, Göran & Mattssson, Leif & Gong, Peichen, 2003. "Applying the Contingent Valuation Method in Resource Accounting: A Bold Proposal," Working Papers 85, National Institute of Economic Research.
    10. Vartiainen, Juhana, 2010. "Interpreting Wage Bargaining Norms," Working Papers 116, National Institute of Economic Research.
    11. Meredith Beechey & Pär Österholm, 2014. "Central Bank Forecasts of Policy Interest Rates: An Evaluation of the First Years," Economic Notes, Banca Monte dei Paschi di Siena SpA, vol. 43(1), pages 63-78, February.
    12. Östblom, Göran & Ljunggren Söderman, Maria & Sjöström, Magnus, 2010. "Analysing future solid waste generation - Soft linking a model of waste management with a CGE-model for Sweden," Working Papers 118, National Institute of Economic Research.

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