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Generational Risk - Is It a Big Deal? : Simulating an 80-Period OLG Model with Aggregate Shocks

Hasanhodzic, Jasmina - 2013

Previous solution methods could not handle large-scale OLG models such as ours due to the well-known curse of dimensionality. The prior state of the art uses sparse-grid methods to handle 10 to 30 periods depending on the model's realism. Other methods used to solve large-scale, multi- period...

Persistent link: https://www.econbiz.de/10012459483

Opting Out of Social Security and Adverse Selection

Kotlikoff, Laurence J. - 1998

This paper compares two general methods of privatization social security: forced participation in the new privatized … payroll tax rate is better at shifting the burden to future workers who benefit from privatization …

Persistent link: https://www.econbiz.de/10012472378

Social Security : Privatization and Progressivity

Kotlikoff, Laurence J. - 1998

compares achieving progressivity as part of privatization reform by a) providing a pay-as-you-go-financed minimum benefit to …. Maintaining this liability limits the effect of privatization on saving and capital accumulation. Second, the tax financing the …

Persistent link: https://www.econbiz.de/10012472380

Simulating the Privatization of Social Security in General Equilibrium

Kotlikoff, Laurence J. - 1996

alternative privatization schemes using the Auerbach-Kotlikoff Dynamic Life-Cycle Model. The simulations indicate three things … long-run gains from privatization are larger if privatization redistributes resources from initial to future generations …, the pure efficiency gains from privatization are also substantial. Efficiency gains refers to the welfare improvement …

Persistent link: https://www.econbiz.de/10012473058

Privatization of Social Security : How It Works and Why It Matters

Kotlikoff, Laurence J. - 1995

effects of privatizing social security, and a simple privatization proposal, the Personal Security System, to discuss other … issues associated with privatization. According to the AK Model, privatizing social security can create major long … compensated for losses from privatization. The precise size of the efficiency gain depends on the existing tax structure, linkage …

Persistent link: https://www.econbiz.de/10012473540

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

Carman, Katherine Grace - 2003

This paper uses ESPlannerTM -- a life-cycle, financial planning model -- to investigate the potential impact of alternative fiscal policies on current consumption and saving. Studies to date have examined the response of current consumption to tax-induced temporary and permanent income changes....

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

Generational Policy

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

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

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