The primary purpose of the paper is to capture in a growth model the conflict of interests between the generation of the young and entrepreneurial on the one hand and the generation of the old and pensioners on the other. The model is applied to assess the size of the gap between optimal...

Willi Leibfritz outlines the purposes and features of generational accounting and reviews the main results of a project applying the technique to 17 countries. In most countries current policies are not sustainable. Future generations would have to pay higher net taxes than current generations....

This paper is concerned with the advanced economies. It begins with a discussion of the demographic issues that have played such a large role in the debate on immigration. This is followed by a section on the main problems involved in estimating the fiscal impact of immigration and then a...