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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

The Impact on Consumption and Saving of Current and Future Fiscal Policies

Carman, Katherine Grace - 2003

alternative fiscal policies on current consumption and saving. Studies to date have examined the response of current consumption … consumption smoothing is actually feasible. ESPlanner's saving and life insurance recommendations generate the smoothest possible … survival-state contingent lifetime consumption path for the household without putting it into debt. Such consumption smoothing …

Persistent link: https://www.econbiz.de/10012468609

Generational Accounts - A Meaningful Alternative to Deficit Accounting

Auerbach, Alan J. - 1991

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

Demographics, Fiscal Policy, and U.S. Saving in the 1980s and Beyond

Auerbach, Alan J. - 1989

This paper focuses on U.S. saving, demographics, and fiscal policy. We use data from the Consumer Expenditure Surveys of the 1980s to consider the effect of demographic change on past and future U.S. saving rates. Our findings indicate that demographic change may significantly alter the U.S....

Persistent link: https://www.econbiz.de/10012475893

From Deficit Delusion to the Fiscal Balance Rule : Looking For an Economically Meaningful Way to Assess Fiscal Policy

Kotlikoff, Laurence J. - 1989

equal to the flow of government consumption less interest on the difference between a) the value of the economy's capital … stock and b) the present value difference between the future consumption and future labor earnings of existing older …

Persistent link: https://www.econbiz.de/10012476215

Russia's Fiscal Gap

Goryunov, Eugene - 2013

Every country faces what economists call an intertemporal (across time) budget constraint, which requires that its government's future expenditures, including the servicing of its outstanding official debt, be covered by its government's future receipts when measured in present value. The...

Persistent link: https://www.econbiz.de/10012459053

Game Over : Simulating Unsustainable Fiscal Policy

Evans, Richard W. - 2012

Fiscal sustainability is one of the most pressing policy issues of our time. Yet it remains difficult to quantify. Official debt is plagued with a number of measurement difficulties since its measurement reflects the choice of words, not policies. And forming the fiscal gap-the imbalance in the...

Persistent link: https://www.econbiz.de/10012460741

The Global Life-Cycle Optimizer – Analyzing Fiscal Policy's Potential to Dramatically Distort Labor Supply and Saving

Brumm, Johannes; Kotlikoff, Laurence J.; Krause, Christopher - National Bureau of Economic Research - 2024

Fiscal policy in the U.S. and other countries renders intertemporal budgets non-differentiable, nonconvex, and discontinuous. Consequently, assessing work and saving responses to policy requires global optimization. This paper develops the Global Life-Cycle Optimizer (GLO), a stochastic...

Persistent link: https://www.econbiz.de/10014528375