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dc.contributor.authorChojnicki, Xavieren_US
dc.contributor.authorDocquier, Frédéricen_US
dc.date.accessioned2009-01-28T16:12:55Z-
dc.date.available2009-01-28T16:12:55Z-
dc.date.issued2004en_US
dc.identifier.urihttp://hdl.handle.net/10419/20275-
dc.description.abstractIn this paper, we investigate the consequences of the rise in educational attainment on the US generational accounts. We build on the 1995 accounts of Gokhale et al. (1999) and disaggregate them per schooling level. We show that low skill newborns are characterized by a negative generational account (-15.4% of their lifetime labor income) whilst medium and high skill newborns have positive accounts (26.8 and 32.3% of their lifetime labor income). Compared to Gokhale et al., our baseline forecast is more optimistic. Nevertheless, the rise in educational attainment is not strong enough to restore the generational balance. The current fiscal policy generates a long run deficit. Balancing the budget requires increasing taxes (by about 1.2%) or reducing transfers (by about 2.7%). These results are robust to growth and discounting assumptions, to the treatment of education spending. They are sensitive to assumptions about the schooling level of future generations.en_US
dc.language.isoengen_US
dc.publisheren_US
dc.relation.ispartofseriesIZA Discussion paper series 1040en_US
dc.subject.jelE62en_US
dc.subject.jelJ24en_US
dc.subject.jelH6en_US
dc.subject.ddc330en_US
dc.subject.keywordgenerational accountingen_US
dc.subject.keywordhuman capitalen_US
dc.subject.keywordfiscal policyen_US
dc.subject.stwFinanzpolitiken_US
dc.subject.stwIntergenerative Belastungsrechnungen_US
dc.subject.stwBildungsniveauen_US
dc.subject.stwHumankapitalen_US
dc.subject.stwSchätzungen_US
dc.subject.stwVereinigte Staatenen_US
dc.titleFiscal Policy and Educational Attainment in the United States : A Generational Accounting Perspectiveen_US
dc.typeWorking Paperen_US
dc.identifier.ppn380020572en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

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