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Author: Jagadeesh Gokhale
Publisher: American Enterprise Institute
ISBN: 9780844771670
Category : Business & Economics
Languages : en
Pages : 100
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Book Description
Many appreciate that the federal government's finances are shaky. However, few realize how bad they really are. As we approach a time when entitlement outlays dominate federal spending, this book recommends shifting to a new, forward-looking method of analyzing our fiscal position.
Author: Jagadeesh Gokhale
Publisher: American Enterprise Institute
ISBN: 9780844771670
Category : Business & Economics
Languages : en
Pages : 100
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Book Description
Many appreciate that the federal government's finances are shaky. However, few realize how bad they really are. As we approach a time when entitlement outlays dominate federal spending, this book recommends shifting to a new, forward-looking method of analyzing our fiscal position.
Author: Nicoletta Batini
Publisher: International Monetary Fund
ISBN: 1455227072
Category : Business & Economics
Languages : en
Pages : 40
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Book Description
This paper updates existing measures of the U.S. fiscal gap to include federal laws up to and including the mid-December 2010 federal fiscal stimulus. It then applies the methodology of generational accounting to establish how the burden of adjustment required to attain fiscal sustainability is shared across generations. We find that the U.S. fiscal and generational imbalances are large under plausible parametric assumptions, and, while not much affected by the financial crisis, they have not improved much by the passing of the Final Healthcare Legislation. We find that, under our baseline scenario, a full elimination of the fiscal and generational imbalances would require all taxes to go up and all transfers to be cut immediately and permanently by 35 percent. A delay in the adjustment makes it more costly.
Author: Alan J. Auerbach
Publisher: University of Chicago Press
ISBN: 0226032183
Category : Business & Economics
Languages : en
Pages : 548
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Book Description
The realities of mounting government debt, tax burdens, and an aging population raise serious concerns about the financial legacy confronting future generations. How great a fiscal burden will current policies leave to subsequent generations, and how might changes in those policies alter the intergenerational distribution of public welfare? Generational accounting has recently emerged as a robust new method of fiscal analysis and planning designed to assess the long-term sustainability of fiscal policy and to measure the extent of the financial load ultimately borne by present and future generations. A seminal contribution to public economics, generational accounting has already been adopted by 23 nations around the world. Combining the latest and most extensive country-by-country generational analyses with a comprehensive review of generational accounting's innovative methodology, these papers are a consummate resource for economists, political scientists, and policy makers concerned with fiscal health and responsibility.
Author: Holger Bonin
Publisher: Springer Science & Business Media
ISBN: 3662045958
Category : Political Science
Languages : en
Pages : 270
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Book Description
Among the concepts used to assess the sustainability of fiscal policy in a changing demographic environment, generational accounting has become the most prominent. This book gives a complete and up-to-date introduction to the theory and practice of the method. It reveals deficiencies of the original residual concept and discusses various measures of intergenerational redistribution based on the recent sustainability approach to generational accounting. An application using data on German public finances serves to provide an in-depth explanation and practical illustration of the technique. The study develops new procedures to evaluate the fiscal externalities of migration and the redistribution of net wealth among living generations resulting from Social Security reform. The book is an indispensable source of reference for analysts employing generational accounting and for those wishing to study intertemporal redistribution through fiscal policy.
Author: Laurence J. Kotlikoff
Publisher: MIT Press
ISBN: 0262250152
Category : Business & Economics
Languages : en
Pages : 279
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Book Description
AS URGENT AS EVER: Nonpartisan policy recommendations and personal strategies for protecting against skyrocketing tax rates, reduced benefits, high inflation, and ruined currency. “Lays out in easy-to-understand prose why Social Security and Medicare need a comprehensive overhaul.” —Los Angeles Times In 2030, as 77 million baby boomers hobble into old age, walkers will outnumber strollers; there will be twice as many retirees as there are today but only 18% more workers. How will America handle this demographic overload? How will Social Security and Medicare function with fewer working taxpayers to support these programs? According to Laurence Kotlikoff and Scott Burns, we’ll see skyrocketing tax rates, drastically lower retirement and health benefits, high inflation, a rapidly depreciating dollar, unemployment, and political instability. But to solve a problem you must first understand it. Kotlikoff and Burns take us on a guided tour of our generational imbalance, first introducing us to the baby boomers and the “fiscal child abuse” that will double the taxes paid by the next generation. There’s also the “deficit delusion” of the under-reported national debt. None of this will be solved by any of the popularly touted remedies: cutting taxes, technological progress, immigration, foreign investment, or the elimination of wasteful government spending. So, how can the United States avoid this demographic/fiscal collision? Kotlikoff and Burns propose bold new policies, including meaningful reforms of Social Security and Medicare. Their proposals are simple, straightforward, and geared to attract support from both political parties. Kotlikoff and Burns also offer a “life jacket”—guidelines for individuals to protect their financial health and retirement. This paperback edition has been revised and updated and includes a new foreword by the authors.
Author:
Publisher:
ISBN:
Category : Taxation
Languages : en
Pages : 200
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Book Description
Author: National Academies of Sciences, Engineering, and Medicine
Publisher: National Academies Press
ISBN: 0309444454
Category : Social Science
Languages : en
Pages : 643
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Book Description
The Economic and Fiscal Consequences of Immigration finds that the long-term impact of immigration on the wages and employment of native-born workers overall is very small, and that any negative impacts are most likely to be found for prior immigrants or native-born high school dropouts. First-generation immigrants are more costly to governments than are the native-born, but the second generation are among the strongest fiscal and economic contributors in the U.S. This report concludes that immigration has an overall positive impact on long-run economic growth in the U.S. More than 40 million people living in the United States were born in other countries, and almost an equal number have at least one foreign-born parent. Together, the first generation (foreign-born) and second generation (children of the foreign-born) comprise almost one in four Americans. It comes as little surprise, then, that many U.S. residents view immigration as a major policy issue facing the nation. Not only does immigration affect the environment in which everyone lives, learns, and works, but it also interacts with nearly every policy area of concern, from jobs and the economy, education, and health care, to federal, state, and local government budgets. The changing patterns of immigration and the evolving consequences for American society, institutions, and the economy continue to fuel public policy debate that plays out at the national, state, and local levels. The Economic and Fiscal Consequences of Immigration assesses the impact of dynamic immigration processes on economic and fiscal outcomes for the United States, a major destination of world population movements. This report will be a fundamental resource for policy makers and law makers at the federal, state, and local levels but extends to the general public, nongovernmental organizations, the business community, educational institutions, and the research community.
Author: National Research Council
Publisher: National Academies Press
ISBN: 0309261961
Category : Social Science
Languages : en
Pages : 230
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Book Description
The United States is in the midst of a major demographic shift. In the coming decades, people aged 65 and over will make up an increasingly large percentage of the population: The ratio of people aged 65+ to people aged 20-64 will rise by 80%. This shift is happening for two reasons: people are living longer, and many couples are choosing to have fewer children and to have those children somewhat later in life. The resulting demographic shift will present the nation with economic challenges, both to absorb the costs and to leverage the benefits of an aging population. Aging and the Macroeconomy: Long-Term Implications of an Older Population presents the fundamental factors driving the aging of the U.S. population, as well as its societal implications and likely long-term macroeconomic effects in a global context. The report finds that, while population aging does not pose an insurmountable challenge to the nation, it is imperative that sensible policies are implemented soon to allow companies and households to respond. It offers four practical approaches for preparing resources to support the future consumption of households and for adapting to the new economic landscape.
Author: Laurence J. Kotlikoff
Publisher: MIT Press
ISBN: 9780262263375
Category : Business & Economics
Languages : en
Pages : 148
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Book Description
How generational policy affects the sustainability of a government's fiscal policy. In these eight 2002 Cairoli Lectures, presented at the Universidad Torcuato di Tella in Buenos Aires, Argentina, Laurence Kotlikoff shows how generational policy works, how it is measured, and how much it matters. Kotlikoff discusses the incidence and measurement of generational policy, the relationship of generational policy to monetary policy, and the vacuity of deficits, taxes, and transfer payments as economic measures of fiscal policy. Kotlikoff also illustrates generational policy's general equilibrium effects with a dynamic life-cycle simulation model and reviews the empirical evidence testing intergenerational altruism and risk sharing. The lectures were delivered as Argentina faced a devastating depression triggered, in large part, by unsustainable generational policy. Throughout the book, Kotlikoff connects his messages about generational policy to the Argentine situation and the Argentine government's policy mistakes.
Author: Panel on the Demographic and Economic Impacts of Immigration
Publisher: National Academies Press
ISBN: 0309521424
Category : Social Science
Languages : en
Pages : 449
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Book Description
This book sheds light on one of the most controversial issues of the decade. It identifies the economic gains and losses from immigration--for the nation, states, and local areas--and provides a foundation for public discussion and policymaking. Three key questions are explored: What is the influence of immigration on the overall economy, especially national and regional labor markets? What are the overall effects of immigration on federal, state, and local government budgets? What effects will immigration have on the future size and makeup of the nation's population over the next 50 years? The New Americans examines what immigrants gain by coming to the United States and what they contribute to the country, the skills of immigrants and those of native-born Americans, the experiences of immigrant women and other groups, and much more. It offers examples of how to measure the impact of immigration on government revenues and expenditures--estimating one year's fiscal impact in California, New Jersey, and the United States and projecting the long-run fiscal effects on government revenues and expenditures. Also included is background information on immigration policies and practices and data on where immigrants come from, what they do in America, and how they will change the nation's social fabric in the decades to come.
