An assessment of the effects of proposed reductions in income and Social Security taxes on middle-income Americans and of cuts in health care spending, using the generational accounting method to examine their likely impact on both current and future national saving rates.

A presentation of the baseline generational accounts for 1992, estimating both the effect of the Omnibus Budget Reconciliation Act of 1993 and the further impact of the Clinton administration's health reform proposal.

An update of the baseline generational accounts reported in the 1993 federal budget that extends the analysis to lifetime net tax rates--the taxes that a generation pays, less the Social Security and other transfer benefits that it receives, as a share of income over its entire lifetime.

A study of the magnitudes of tax increases, transfer cuts, or reductions in government purchases that would be needed to rectify the huge imbalance in the generational stance of U.S. fiscal policy, concluding that congressionally proposed outlay reductions in nondefense and non-Social Security...

The authors use a stylized model of the economy to analyze how permanent and temporary increases in government expenditure--and the timing of taxation used to finance them--affect aggregate output and other variables that describe the economy.

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...

The authors report each country’s total intertemporal public liability as the sum of its explicit outstanding debt and the present values of its implicit liabilities—the excess of projected transfers and government purchases over tax revenues. They find rapid, persistent population aging in...

A decomposition of the welfare loss from a capital income tax into its two components: the intertemporal (consuming today versus tomorrow) and the within-period or static (consuming durable versus nondurable goods). Its calculations, which use a calibrated life-cycle model with a representative...