Evaluating the sustainability of a society requires a system of shadow or accounting values derived from the … sustainability objective. As a first step toward the derivation of such shadow values for a maximin objective, this paper studies an … genuine savings and the sustainability prospects of future generations …

I define “generous sustainability” as a combination of two conditions: neither instantaneous maximin income nor … compared to existing sustainability concepts. As a rule of thumb, generosity requires that GHG emissions are limited to levels …

We offer a new methodology for the assessment of public debt sustainability in a stochastic economy when sovereign … recovery rule. We distinguish sustainability and unsustainability conditions, related to alternative scenarios on the future … default occurs, the sustainability of the post-default debt is ensured when the haircut is sufficiently large. Lastly we …

We study the sustainability of pension systems using a life-cycle model with distortionary taxation that sets an upper … welfare of a number of policies often advocated to improve the sustainability of pension systems. New tax data on dynamic …

In this paper, we extend Henning Bohn's (2008) fiscal sustainability test by allowing for slope heterogeneity and cross … sustainability criteria. According to our results, politicians have significantly reacted to increasing debt levels by increasing …

fiscal sustainability, for 27 countries of the European Union. We first calculate tax gaps à la Blanchard (1990) and …