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dc.contributor.authorBonin, Holgeren_US
dc.contributor.authorAbio, Gemmaen_US
dc.contributor.authorBerenguer, Eduardoen_US
dc.contributor.authorGil, Joanen_US
dc.contributor.authorPatxot, Concepcióen_US
dc.date.accessioned2009-01-28T16:19:58Z-
dc.date.available2009-01-28T16:19:58Z-
dc.date.issued2001en_US
dc.identifier.urihttp://hdl.handle.net/10419/21161-
dc.description.abstractAccording to the 2001 Spanish budgetary previsions, the government deficit is about to disappear. We analyse this matter within a generational accounting framework. Accounting for the recent expansive phase of the economic cycle, we find that current fiscal policy is also intertemporally balanced provided that the favourable present employment situation lasts. However, public finances remain under the pressure of the demographic cycle. Therefore, to achieve fiscal sustainability, the surpluses predicted for the next decades need to be accumulated, in order to finance deficits appearing during the baby-boomers? retirement. The improvement of employment has played an important role in this situation. We extend the standard generational accounting methodology incorporating tax and transfer age profiles by employment status. This permits us to analyse the possible intertemporal impact of several future employment developments. In particular, we assess the fiscal effects of an expected future increase in female labour force participation. We show that this trend does not necessarily improve the intertemporal government budget, as social insurance in Spain is not actuarially fair. Finally, we also assess the impact of a decline in unemployment to the natural rate of unemployment.en_US
dc.language.isoengen_US
dc.publisheren_US
dc.relation.ispartofseriesIZA Discussion paper series 306en_US
dc.subject.jelH55en_US
dc.subject.jelE62en_US
dc.subject.ddc330en_US
dc.subject.keywordGenerational accountingen_US
dc.subject.keywordSpainen_US
dc.subject.keywordfiscal policyen_US
dc.subject.keywordlabour market trendsen_US
dc.subject.stwIntergenerative Belastungsrechnungen_US
dc.subject.stwHaushaltsdefiziten_US
dc.subject.stwFinanzpolitiken_US
dc.subject.stwBeschäftigungen_US
dc.subject.stwTheorieen_US
dc.subject.stwSpanienen_US
dc.titleIs the Deficit under Control?en_US
dc.typeWorking Paperen_US
dc.identifier.ppn333718356en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

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