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Reply to Diamond's and Cutler's Reviews of Generational Accounting

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  • Kotlikoff, Laurence J.

Abstract

Generational Accounting is less than seven years old, but it has spread around the world, from Norway to New Zealand. So far, 19 countries have constructed or are currently constructing generational accounts. Most of these accounts have been produced by, or with the help of, government ministries. This growing use of generational accounting makes its scrutiny of more than academic importance. This article replies to Peter Diamond's and David Cutler's thoughtful critiques of generational accounting.

Suggested Citation

  • Kotlikoff, Laurence J., 1997. "Reply to Diamond's and Cutler's Reviews of Generational Accounting," National Tax Journal, National Tax Association;National Tax Journal, vol. 50(2), pages 303-314, June.
    • Handle: RePEc:ntj:journl:v:50:y:1997:i:2:p:303-14
    DOI: 10.1086/NTJ41789259
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    References listed on IDEAS

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    1. Diamond, Peter, 1996. "Generational Accounts and Generational Balance: An Assessment," National Tax Journal, National Tax Association;National Tax Journal, vol. 49(4), pages 597-607, December.
    2. Joseph G. Altonji & Aloysius Siow, 1985. "Testing the Response of Consumption to Income Changes with (Noisy) Panel Data," Working Papers 566, Princeton University, Department of Economics, Industrial Relations Section..
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    4. 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.
    5. Hayashi, Fumio & Altonji, Joseph & Kotlikoff, Laurence, 1996. "Risk-Sharing between and within Families," Econometrica, Econometric Society, vol. 64(2), pages 261-294, March.
    6. Laurence J. Kotlikoff & Laurence J. Kotlikoff & Willi Leibfritz, 1999. "From Deficit Delusion to the Fiscal Balance Rule: Looking for an Economically Meaningful Way to Assess Fiscal Policy," NBER Chapters, in: Generational Accounting around the World, pages 9-30, National Bureau of Economic Research, Inc.
    7. Christopher D. Carroll, 1997. "Buffer-Stock Saving and the Life Cycle/Permanent Income Hypothesis," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 112(1), pages 1-55.
    8. Diamond, Peter, 1996. "Generational Accounts and Generational Balance: An Assessment," National Tax Journal, National Tax Association, vol. 49(4), pages 597-607, December.
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    Cited by:

    1. Otto Gandenberger, 2000. "Is the Fiscal Deficit Misconceived? Proponents of Generational Accounting Overstate their Case," CESifo Working Paper Series 282, CESifo.
    2. Engen, Eric M., 1997. "Distributional Analysis of Tax Policy," National Tax Journal, National Tax Association;National Tax Journal, vol. 50(4), pages 805-809, December.
    3. Kotlikoff, Laurence J., 2002. "Generational policy," Handbook of Public Economics, in: A. J. Auerbach & M. Feldstein (ed.), Handbook of Public Economics, edition 1, volume 4, chapter 27, pages 1873-1932, Elsevier.
    4. John Ablett & Zaid Tseggai‐Bocurezion, 2000. "Lifetime Net Average Tax Rates in Australia Since Federation—A Generational Accounting Study," The Economic Record, The Economic Society of Australia, vol. 76(233), pages 139-151, June.

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