Comment on A.J. Auerbach, J. Gokhale and L.J. Kotlikoff, "Generational Accounting: A New Approach to Understanding the Effects of Fiscal Policy on Saving."
Article Abstract:
The study entitled 'Generational Accounting: A New Approach to Understanding the Effects of Fiscal Policy on Saving', by J. Gokhale, A.J. Auerbach and L.J. Kotlikoff, raises a range of general issues. It sets down an approach which would need considerable changes to include the vital intergenerational transfers made over the last two decades in the UK, to which the authors are considering applying their framework, but represents a useful starting point in the assessment of generational issues. It indicates that Americans born after 1989 will pay 20% more of their lifetime incomes in net payments to governments in the country than previous generations, but the framework used fails to cover all the most important intergenerational tradeoffs.
Publication Name: Scandinavian Journal of Economics
Subject: Economics
ISSN: 0347-0520
Year: 1992
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Comment on A.J. Auerbach and L.J. Kotlikoff, "The Impact of the Demographic Transition on Capital Formation."
Article Abstract:
The paper 'The Impact of the Demographic Transition on Capital Formation' by A.J. Auerbach and L.J. Kotlikoff attempts to use a model which reflects the current age/saving structure to look at how demographic developments will influence saving rates. This model allows forecasting of the gradual change in the age/saving profile aand of the aggregate saving rate, but a number of its components clash with the world as it is generally perceived. The authors make only a limited evaluation of the prediction abilities of their model, and do not attempt to align the model with the aggregate saving rate in other periods or countries.
Publication Name: Scandinavian Journal of Economics
Subject: Economics
ISSN: 0347-0520
Year: 1992
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