Generational Accounting of Future Generations(in Japanese)

This paper has estimated lifetime benefits and burdens of each future generation and underlying fiscal situation.Net burdens could be significantly different among the future generations depending on how to improve the primary fiscal balance, even though the government debt be eliminated in 2200.If the primary fiscal balance improved by 8% of GDP in 2015, intergenerational inequality would be small among the age zero and the future generations.If the primary fiscal balance improved earlier, the net burdens of the future genetrations would be reduced substaintially. On the contrary, if fiscal consolidation was delayed, net burdens of the future generations would be larger and government debt to GDP ratio would stay high for a long time.This implies that policy makers need to pay attention to intergenerational inequality among the future generations.