Intergenerational policy and the measurement of tax incidence
Conesa, Juan Carlos (Stony Brook University)
Garriga, Carlos (Federal Reserve Bank of St. Louis)

Data:	2016
Resum:	We evaluate the ability of generational accounting to assess the potential welfare implications of policy reforms. In an intergenerational context policy reforms usually have redistributive, efficiency, and general equilibrium implications. Our analysis shows that when the policy reform implies changes in economic efficiency, generational accounts can be misleading not only about the magnitude of welfare changes, but also about the identity of who wins and who losses. In contrast, the generational accounts correctly identify welfare changes when the policy reform has only a pure intergenerational redistribution component. We illustrate and quantify this issue in the context of widely considered policy reforms (substitution of consumption for labor taxation, and the increase of retirement age) and in a more general context of optimal policy.
Ajuts:	Ministerio de Economía y Competitividad ECO2012-32392
Drets:	Tots els drets reservats.
Llengua:	Anglès
Document:	Article ; recerca ; Versió acceptada per publicar
Matèria:	Generational accounts ; Optimal reforms ; Overlapping generations
Publicat a:	European economic review, Vol. 83 (April 2016) , p. 1-18, ISSN 0014-2921

DOI: 10.1016/j.euroecorev.2015.10.009

Postprint 33 p, 516.2 KB

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