Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/38853
Authors: 
Hagist, Christian
Vatter, Johannes
Year of Publication: 
2009
Series/Report no.: 
Diskussionsbeiträge // Forschungszentrum Generationenverträge der Albert-Ludwigs-Universität Freiburg 35
Abstract: 
The consequences of ageing populations for federal and state fiscal policies are, due to the research efforts of the last two decades, well known. However, it is rather less well known how the municipal level is affected. Therefore, by using a modification of the sustainability definition formulated by Blanchard, Chouraqui, Hagemann, and Sartor (1990) and the concepts of Auerbachs, Kotlikoffs and Gokhales Generational Accounting (1991) we define a new framework focusing on capital stock, financial management and depreciation of municipal assets. This papers purpose is to deliver a concept which is able to provide sound indicators for long-term budgeting by local authorities. We apply this framework to three German cities with different typologies, Munich, Freiburg and Schwäbisch Hall.
Subjects: 
Fiscal sustainability
demographic transition
municipalities
Document Type: 
Working Paper

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