Showing 1 - 10 of 13
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
's treatment of children vis-a-vis adults, particularly the current elderly. The paper begins by showing that poverty rates of … children have, over the past two decades, risen dramatically while those of the elderly have fallen. Next, it shows that, over … this same time frame, the levels of consumption and income of the elderly have risen relative to those of other Americans …
Persistent link: https://www.econbiz.de/10012474655
rates, taking into account all major federal and state tax and transfer policies, d) evaluate the ability of current income … seems hard to reconcile with standard norms of optimal taxation. We also find that current income is a very poor proxy for …
Persistent link: https://www.econbiz.de/10012456642
Are smarter machines our children's friends? Or can they bring about a transfer from our relatively unskilled children … to ourselves that leaves our children and, indeed, all our descendants - worse off? …
Persistent link: https://www.econbiz.de/10012460031
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
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
This paper presents a set of generational accounts (GAS) that can be used to assess the fiscal burden current generations are placing on future generations. The GAS indicate the net present value amount that current and future generations are projected to pay to the government now and in the...
Persistent link: https://www.econbiz.de/10012475431
Notwithstanding its widespread use as a measure of fiscal policy, the government deficit is not a well-defined concept from the perspective of neoclassical macro economics. From the neoclassical perspective the deficit is an arbitrary accounting construct whose value depends on how the...
Persistent link: https://www.econbiz.de/10012476215
In recent years Robert Barro's (1974) ingenious model of inter- generational altruism has taken its place among the major theories of consumption and saving. Despite its policy importance, there have been few direct tests of the Barro model. This paper presents a new direct test that is based on...
Persistent link: https://www.econbiz.de/10012476577
bequests among children, are strongly at adds with the altruism model. Other explanations involving imperfect insurance …
Persistent link: https://www.econbiz.de/10012476831