Auerbach, Alan J.; Gokhale, Jagadeesh; Kotlikoff, … - In: Journal of Economic Perspectives 8 (1994) 1, pp. 73-94
This paper illustrates the technique of generational accounting, a new way to evaluate fiscal policy that overcomes the … clearer picture of the intergenerational and macroeconomic effects of fiscal policy than any measure of the deficit. Their … calculations suggest that, despite recent changes, U.S. fiscal policy is unsustainable in that it will ultimately require future …