Generational Accounting
Generational Accounting

Author: Holger Bonin

Publisher: Springer Science & Business Media

Published: 2013-03-14

Total Pages: 270

ISBN-13: 3662045958

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Among the concepts used to assess the sustainability of fiscal policy in a changing demographic environment, generational accounting has become the most prominent. This book gives a complete and up-to-date introduction to the theory and practice of the method. It reveals deficiencies of the original residual concept and discusses various measures of intergenerational redistribution based on the recent sustainability approach to generational accounting. An application using data on German public finances serves to provide an in-depth explanation and practical illustration of the technique. The study develops new procedures to evaluate the fiscal externalities of migration and the redistribution of net wealth among living generations resulting from Social Security reform. The book is an indispensable source of reference for analysts employing generational accounting and for those wishing to study intertemporal redistribution through fiscal policy.

“An Analysis of U.S. Fiscal and Generational Imbalances
“An Analysis of U.S. Fiscal and Generational Imbalances

Author: Nicoletta Batini

Publisher: International Monetary Fund

Published: 2011-04-01

Total Pages: 40

ISBN-13: 1455227072

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This paper updates existing measures of the U.S. fiscal gap to include federal laws up to and including the mid-December 2010 federal fiscal stimulus. It then applies the methodology of generational accounting to establish how the burden of adjustment required to attain fiscal sustainability is shared across generations. We find that the U.S. fiscal and generational imbalances are large under plausible parametric assumptions, and, while not much affected by the financial crisis, they have not improved much by the passing of the Final Healthcare Legislation. We find that, under our baseline scenario, a full elimination of the fiscal and generational imbalances would require all taxes to go up and all transfers to be cut immediately and permanently by 35 percent. A delay in the adjustment makes it more costly.

Tax Policy and Uncertainty
Tax Policy and Uncertainty

Author: Christopher Ball

Publisher: Edward Elgar Publishing

Published: 2020-11-27

Total Pages: 192

ISBN-13: 1800376014

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Presenting innovative modelling approaches to the analysis of fiscal policy and government debt, this book moves beyond previous models that have relied upon the assumption that various age-specific rates and policy variables remain unchanged when it comes to generating government expenditures and tax revenues. As a result of population ageing, current policy settings in many countries are projected to lead to unsustainable levels of public debt; Tax Policy and Uncertainty explores models that allow for feedbacks and uncertainty to combat this.