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Kotlikoff, Laurence J. - 2021

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/10013231998

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

Carman, Katherine Grace; Gokhale, Jagadeesh; Kotlikoff, … - 2021

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/10013218544

Game Over : Simulating Unsustainable Fiscal Policy

Evans, Richard W. - 2014

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/10013064889

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/10013073203

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

Auerbach, Alan J. - 2010

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/10012760152

Fiscal Policies, Debt, and International Economic Interdependence

Frenkel, Jacob A.; Razin, Assaf - 2021

international transmission of fiscal policies.The dependence of the patterns of consumption in one country on fiscal policiesin the … immediate increase in foreign private sector's consumption and thereby results in a positive current transmission. These …

Persistent link: https://www.econbiz.de/10013223092

The International Transmission and Effects of Fiscal Policies

Frenkel, Jacob A.; Razin, Assaf - 2021

the relation among the intercountry patterns of consumption, long and short-term real rates of interest, real exchange …

Persistent link: https://www.econbiz.de/10013225419

The International Transmission of Fiscal Expenditures and Budget Deficits in the World Economy

Frenkel, Jacob A.; Razin, Assaf - 2021

This paper analyses the effects of fiscal policies on rates of interest and wealth in the world economy. Uncertainty concerning the length of life yields an equilibrium in which private and social rates of discount differ and budget deficits exert real effects. It is shown that a current budget...

Persistent link: https://www.econbiz.de/10013243646

Fiscal Policies and Real Exchange Rates in the World Economy

Frenkel, Jacob A.; Razin, Assaf - 2021

This paper examines the effects of fiscal policies on the evolution of real rates of interest and real exchange rates in the interdependent world economy. We construct an analytical framework suitable for a detailed examination of the various channels through which these variables are influenced...

Persistent link: https://www.econbiz.de/10013246077

Migration and Fiscal Competition within a Union

Razin, Assaf - 2013

We develop a stylized EU-type model of a union consisting of rich, capital-abundant and high productivity countries, and poor, capital-scarce and low productivity countries. We address two main issues: the efficiency of tax competition and the effect of factor mobility on the size of the welfare...

Persistent link: https://www.econbiz.de/10013077970