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Generational Accounting in Spain: Has public sector grown too much?

Author

Listed:
  • Eduardo Berenguer Comas
  • Holger Bonin
  • Bernd Raffelhuschen

    (Universitat de Barcelona)

Abstract

This paper assesses the intergenerational stance of fiscal policy in Spain by using the method of Generational Accounting. It is found that both the demographic transition and the oustanding public debt induce net payments of future generations exceeding those of current newborns by approximately 370 percent. This severe generational imbalance can only be eliminated by rather immediate and significant policy changes including both tax increments and curs in public expenditure. In line with the current fiscal debates, we also investigate the impacts of policy reforms concerning the restructuring of social insurances and the broadening of the tax base in Spain.

Suggested Citation

  • Eduardo Berenguer Comas & Holger Bonin & Bernd Raffelhuschen, 1998. "Generational Accounting in Spain: Has public sector grown too much?," Working Papers in Economics 30, Universitat de Barcelona. Espai de Recerca en Economia.
    • Handle: RePEc:bar:bedcje:199830
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    Cited by:

    1. Holger Bonin & Joan Gil & Concepció Patxot, 2001. "Beyond the Toledo agreement: the intergenerational impact of the Spanish Pension Reform," Spanish Economic Review, Springer;Spanish Economic Association, vol. 3(2), pages 111-130.

    More about this item

    JEL classification:

    • H60 - Public Economics - - National Budget, Deficit, and Debt - - - General
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory

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