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Generational accounts for the United States: an update

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  • Jagadeesh Gokhale
  • Benjamin R. Page
  • John R. Sturrock

Abstract

An examination of the continuing generational imbalance in U.S. fiscal policy, showing that under current policy, future generations will have to pay almost half of their lifetime labor incomes in net taxes to balance the government's book--more than 70% greater than the 28.6% today's newborns are slated to give up.

Suggested Citation

  • Jagadeesh Gokhale & Benjamin R. Page & John R. Sturrock, 1997. "Generational accounts for the United States: an update," Economic Review, Federal Reserve Bank of Cleveland, issue Q IV, pages 2-23.
    • Handle: RePEc:fip:fedcer:y:1997:i:qiv:p:2-23
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    File URL: http://www.clevelandfed.org/research/review/1997/97-q4-gokhale.pdf
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    References listed on IDEAS

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    1. Alan J. Auerbach & Jagadeesh Gokhale & Laurence J. Kotlikoff, 1991. "Generational Accounts: A Meaningful Alternative to Deficit Accounting," NBER Chapters, in: Tax Policy and the Economy, Volume 5, pages 55-110, National Bureau of Economic Research, Inc.
    2. Altonji, Joseph G & Hayashi, Fumio & Kotlikoff, Laurence J, 1992. "Is the Extended Family Altruistically Linked? Direct Tests Using Micro Data," American Economic Review, American Economic Association, vol. 82(5), pages 1177-1198, December.
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    Cited by:

    1. Carole Bonnet, 2002. "Comptabilité générationnelle appliquée à la France : quelques facteurs d'instabilité des résultats," Économie et Prévision, Programme National Persée, vol. 154(3), pages 59-78.
    2. SHIMASAWA Manabu & OGURO Kazumasa, 2016. "Will Abenomics Save Future Generations?," Discussion papers 16100, Research Institute of Economy, Trade and Industry (RIETI).
    3. Martin Larch & João Nogueira Martins, 2007. "Fiscal indicators - Proceedings of the the Directorate-General for Economic and Financial Affairs Workshop held on 22 September 2006 in Brussels," European Economy - Economic Papers 2008 - 2015 297, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    4. Harry Ter Rele & Claudio Labanca, 2012. "Lifetime Generational Accounts for the Netherlands," Fiscal Studies, Institute for Fiscal Studies, vol. 33(3), pages 399-427, September.
    5. Shimasawa, Manabu & Oguro, Kazumasa & Masujima, Minoru, 2014. "Population Aging, Policy Reforms, and Lifetime Net Tax Rate in Japan: A Generational Accounting Approach," CIS Discussion paper series 625, Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University.

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