Generational Accounting around the World
Alan J. Auerbach, Laurence J. Kotlikoff, Willi Leibfritz
University of Chicago Press, Dec 1, 2007 - Business & Economics - 544 pages
The realities of mounting government debt, tax burdens, and an aging population raise serious concerns about the financial legacy confronting future generations. How great a fiscal burden will current policies leave to subsequent generations, and how might changes in those policies alter the intergenerational distribution of public welfare? Generational accounting has recently emerged as a robust new method of fiscal analysis and planning designed to assess the long-term sustainability of fiscal policy and to measure the extent of the financial load ultimately borne by present and future generations. A seminal contribution to public economics, generational accounting has already been adopted by 23 nations around the world.
Combining the latest and most extensive country-by-country generational analyses with a comprehensive review of generational accounting's innovative methodology, these papers are a consummate resource for economists, political scientists, and policy makers concerned with fiscal health and responsibility.
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2 The Methodology of Generational Accounting
3 Generational Accounting in General Equilibrium
4 An International Comparison of Generational Accounts
5 Argentinas Generational Accounts Is the Convertibility Plans Fiscal Policy Sustainable?
6 Generational Accounting in Australia
7 Generational Accounts for Belgium
8 Generational Accounting in Brazil
14 Generational Accounts for the Netherlands
15 Generational Accounting in New Zealand
16 Generational Accounting and Depletable Natural Resources The Case of Norway
17 Generational Accounts in Sweden
18 Thailands Generational Accounts
19 Generational Accounting in Japan
20 Generational Accounting in Portugal
21 Generational Accounts for the United States An Update
9 Canada On the Road to Fiscal Balance
10 Public Debt Welfare Reforms and Intergenerational Distribution of Tax Burdens in Denmark
11 Generational Accounting for France
12 Unification and Aging in Germany Who Pays and When?
13 Generational Accounts for Italy
1.5 percent Absolute imbalance adjustment alternative Argentina assets assumed assumptions Auerbach average base base-case baseline benefits billion burden on future calculations capital income tax cohorts countries current newborns deficit demographic dependency ratio discount rate economic elderly estimated federal females fertility rate fiscal balance rule fiscal burden fiscal policy Gokhale government consumption government purchases government's higher households impact increase indirect taxes interest rate intergenerational International Monetary Fund Kotlikoff labor income lifetime net tax lower males ment migration National net present value newborns and future Norway OECD old-age pension percent of GDP Percentage difference population present value projected public debt receipts reduced reform relative scenario seigniorage sensitivity social insurance social security social security contributions Table tax burden tax payments tax rates tax revenues taxes and transfers Thailand thousands of U.S. tion transfer payments U.S. dollars unemployment value-added tax wage welfare Zealand
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Page 3 - These countries are Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Ireland, Italy, Japan, the Netherlands, New Zealand, Norway, Sweden, Switzerland, the United Kingdom and the United States.
Page viii - The object of the Bureau is to ascertain and to present to the public important economic facts and the interpretation thereof in a scientific and impartial manner, free from bias and propaganda.
Page viii - Publications of the National Bureau of Economic Research 1 . The object of the National Bureau of Economic Research is to ascertain and to present to the public important economic facts and their interpretation in a scientific and impartial manner. The Board of Directors is charged with the responsibility of ensuring that the work of the National Bureau is carried on in strict conformity with this object. 2. The President of the National Bureau shall submit to the Board of Directors, or to its Executive...