In this paper, we compare the total size of intertemporal public liabilities (IPLs) of several European countries and the United States. We utilize the machinery of generational accounting in order to calculate the composition of the countries IPLs, that is the sum of the explicit and implicit...

Gokhale and Smetters put forward some criticisms concerning the indicators currently used to assess the financial sustainability of the U.S. Social Security program. They argue that these indicators create a misleading impression of the program's financial outlook and are biased against...

What are the implications of Europe's economic troubles for America? Several EU economies now face deep private and sovereign debt overhangs — a situation not unlike that in the United States, which also faces its own challenges with fiscal policy. How do the economic conditions in America and...

In this paper, we compare the total size of intertemporal public liabilities (IPLs) of several European countries and the United States. We utilize the machinery of generational accounting in order to calculate the composition of the countries IPLs, that is the sum of the explicit and implicit...

In this paper, we compare the total size of intertemporal public liabilities (IPLs) of several European countries and the United States. We utilize the machinery of generational accounting in order to calculate the composition of the countries IPLs, that is the sum of the explicit and implicit...