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Generational Policy
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
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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
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The Economic Consequences of the Franc Poincare
Eichengreen, Barry; Wyplosz, Charles - 2021
In this paper we reassess the cyclical performance of the French economy in the 1920s, focusing in particular on the period 1926-1931 and on France's resistance to the Great Depression. France expanded rapidly after 1926 and, unlike the other leading industrial economies, resisted the onset of...
Persistent link: https://www.econbiz.de/10013215366
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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
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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
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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
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Real Exchange Rate Effects of Fiscal Policy
Sachs, Jeffrey D.; Wyplosz, Charles - 2021
This paper develops a framework for analyzing the effects of fiscal policy on the real exchange rate. The short-run impact of various types of fiscal measures are considered as well as the dynamics of adjustment to long-run steady states. The analysis and related simulations suggest that the...
Persistent link: https://www.econbiz.de/10013224717
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Generational Accounts - a Meaningful Alternative to Deficit Accounting
Auerbach, Alan J.; Gokhale, Jagadeesh; Kotlikoff, … - 2022
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/10013323576
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Fiscal Rules : Theoretical Issues and Historical Experiences
Wyplosz, Charles - 2012
Fiscal indiscipline is a feature of many developed countries. It is generally accepted that the source of the phenomenon lies in the common pool problem, the fact that recipients of public spending to fail to fully internalize the costs that taxpayers must assume. As a result, democratically...
Persistent link: https://www.econbiz.de/10013110082
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Fiscal Rules : Theoretical Issues and Historical Experiences
Wyplosz, Charles - 2012
Fiscal indiscipline is a feature of many developed countries. It is generally accepted that the source of the phenomenon lies in the common pool problem, the fact that recipients of public spending to fail to fully internalize the costs that taxpayers must assume. As a result, democratically...
Persistent link: https://www.econbiz.de/10013110161