The fiscal deficit is "ill defined"; it is "without theoretical background"; it is "a number in search of a concept". Such judgements are characteristic of a prominent part of the literature on the new measurement concept of generational accounting. This paper argues that such criticism is...

Otto Gandenberger, Is the Fiscal Deficit Misconceived? Proponents of Generational Accounting Overstate their Case

The fiscal deficit is "ill defined"; it is "without theoretical background"; it is "a number in search of a concept". Such judgements are characteristic of a prominent part of the literature on the new measurement concept of generational accounting. This paper argues that such criticism is...

Otto Gandenberger, Is the Fiscal Deficit Misconceived? Proponents of Generational Accounting Overstate their Case