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Generational Accounting around the World

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.

Table of Contents

Alan J. Auerbach, Laurence J. Kotlikoff, and Willi Leibfritz
1. From Deficit Delusion to the Fiscal Balance Rule: Looking for an Economically Meaningful Way to Assess Fiscal Policy
Laurence J. Kotlikoff
2. The Methodology of Generational Accounting
Alan J. Auerbach and Laurence J. Kotlikoff
3. Generational Accounting in General Equilibrium
Hans Fehr and Laurence J. Kotlikoff
4. An International Comparison of Generational Accounts
Laurence J. Kotlikoff and Willi Leibfritz
5. Argentina’s Generational Accounts: Is the Convertibility Plan’s Fiscal Policy Sustainable?
Marcelo F. Altamiranda
6. Generational Accounting in Australia
John Ablett
7. Generational Accounts for Belgium
Jean-Philippe Stijns
8. Generational Accounting in Brazil
Regina Villela Malvar
9. Canada: On the Road to Fiscal Balance
Philip Oreopoulos
10. Public Debt, Welfare Reforms, and Intergenerational Distribution of Tax Burdens in Denmark
Svend E. Hougaard Jensen and Bernd Raffelhuschen
11. Generational Accounting for France
Joaquim Levy and Ousmane Dore
12. Unification and Aging in Germany: Who Pays and When?
Bernd Raffelhuschen and Jan Walliser
13. Generational Accounts for Italy
Nicola Sartor
14. Generational Accounts for The Netherlands
A. Lans Bovenberg and Harry ter Rele
15. Generational Accounting in New Zealand
Bruce Baker
16. Generational Accounting and Depletable Natural Resources: The Case of Norway
Erling Steigum, Jr., and Carl Gjersem
17. Generational Accounts in Sweden
Robert P. Hagemann and Christoph John
18. Thailand’s Generational Accounts
Nanak Kakwani and Medhi Krongkaew
19. Generational Accounting in Japan
Noriyuki Takayama, Yukinobu Kitamura, and Hiroshi Yoshida
20. Generational Accounting in Portugal
Alan J. Auerbach, Jorge Braga de Macedo, Jose Braz, Laurence J. Kotlikoff, and Jan Walliser
21. Generational Accounts for the United States: An Update
Jagadeesh Gokhale, Benjamin R. Page, and John R. Sturrock
Author Index
Subject Index

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