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Is Debt Neutral in the Life Cycle Model?
Kotlikoff, Laurence J. - 1986
This paper questions the widely accepted view that deficits have real effects in the life cycle model. Standard analyses of deficits within life cycle models treat the government as a dictatorial entity that can effect any intergenerational redistribution it desires. In contrast, this paper...
Persistent link: https://www.econbiz.de/10012477016
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Generational accounting around the world
Auerbach, Alan J. (ed.); Kotlikoff, Laurence J. (contributor) - 1999
Persistent link: https://www.econbiz.de/10000673067
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When Interest Rates Go Low, Should Public Debt Go High?
Brumm, Johannes; Feng, Xiangyu; Kotlikoff, Laurence J.; … - National Bureau of Economic Research - 2021
Is deficit finance, explicit or implicit, free when borrowing rates are routinely lower than growth rates? Specifically, can the government make all generations better off by perpetually taking from the young and giving to the old? We study this question in simple closed and open economies and...
Persistent link: https://www.econbiz.de/10012585435
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Social Security : A Financial Appraisal Across and Within Generations
Boskin, Michael J. - 1986
. All computations are made for the 1985 Social Security and income tax laws. The general results are that Social Security … internal rate of return on contributions ranges from negative numbers to 6.6% for households of different ages, income levels …, and marital status. These differences are far greater than the widely debated distributional affects of relevant income …
Persistent link: https://www.econbiz.de/10012477184
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The Role of Intergenerational Transfers in Aggregate Capital Accumulation
Kotlikoff, Laurence J. - 1980
This paper uses historicaI U.S. data to directly estimate the contribution of intergenerational transfers to aggregate capital accumulation. The evidence presented indicates that intergenerational transfers account for the vast majority of aggregate U .S. capital formation; only a negligible...
Persistent link: https://www.econbiz.de/10012478700
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Generational Policy
Kotlikoff, Laurence J. - 2001
Generational policy is a fundamental aspect of a nation's fiscal affairs. The policy involves redistributing resources across generations and allocating to particular generations the burden of paying the government's bills. This chapter of the second edition of The Handbook of Public Economics...
Persistent link: https://www.econbiz.de/10012470563
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Medicare from the Perspective of Generational Accounting
Gokhale, Jagadeesh - 1998
U.S. policy changes and more optimistic fiscal forecasts have significantly improved the long-term fiscal prospects of the country. Nevertheless, these prospects remain dismal. Unless U.S. fiscal policy changes by a lot and very soon, our descendants will face rates of lifetime net taxation that...
Persistent link: https://www.econbiz.de/10012472215
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An International Comparison of Generational Accounts
Kotlikoff, Laurence J. - 1998
This paper summarizes findings reported in a forthcoming NBER volume entitled 'Generational Accounting Around the World.' This volume includes generational accounting studies for 17 countries. The findings are shocking. The world's leading industrial powers - the U.S., Japan, and Germany - all...
Persistent link: https://www.econbiz.de/10012472358
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Generational Accounting in General Equilibrium
Fehr, Hans - 1995
This paper shows how changes in generational accounts relate to the generational incidence of fiscal policy. To illustrate the relationship, it uses the Auerbach-Kotlikoff Dynamic Life-Cycle Simulation Model to compare policy-induced changes in generational accounts with actual changes in...
Persistent link: https://www.econbiz.de/10012473797
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The Increasing Annuitization of the Elderly- Estimates and Implications for Intergenerational Tranfers, Inequality, and National Saving
Auerbach, Alan J. - 1992
estimated 1983 flow of aggregate bequests to children and grandchildren would have been 20% larger were it not for this increase …
Persistent link: https://www.econbiz.de/10012474785