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Generational accounting in Portugal : an assessment of long-term fiscal sustainability and intergenerational inequality
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Autores
Orientador(es)
Resumo(s)
The social and economic developments in European countries have put pressure on
their national budgets and threaten the sustainability of public policies. The traditional fiscal indicators, specifically, the deficit and the debt, which are still used
today as guiding tools, have proved to be insufficient, due to their arbitrary nature
and short-term focus. In this paper, we resort to an alternative fiscal indicator, known
as ‘generational accounting’, which is able to incorporate the future changes in the
demographic structure of the population, and their corresponding impact on public
accounts. It is also able to evaluate how current fiscal policy affects, not only, current generations, but also future generations. We apply this methodology to assess the
long-term fiscal situation of Portugal, and compare the results with those obtained in
1999. In this context, we also explore additional scenarios, as well as additional indicators, in order to provide some robustness to our findings. Our results show that, if
the current fiscal policy is not significantly changed, future generations will face a
much heavier fiscal burden than current generations.
Descrição
Palavras-chave
Generational accounting Fiscal sustainability Intergenerational distribution Overlapping generations Net tax payments Public accounts
Contexto Educativo
Citação
Pinheiro, Jorge (2021). "Generational accounting in Portugal : an assessment of long-term fiscal sustainability and intergenerational inequality". Portuguese Economic Journal, 20(2):181-221
Editora
Springer