Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/21161
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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 todisappear. We analyse this matter within a generational accounting framework. Accounting forthe recent expansive phase of the economic cycle, we find that current fiscal policy is alsointertemporally balanced provided that the favourable present employment situation lasts.However, public finances remain under the pressure of the demographic cycle. Therefore, toachieve fiscal sustainability, the surpluses predicted for the next decades need to beaccumulated, in order to finance deficits appearing during the baby-boomers? retirement.The improvement of employment has played an important role in this situation. Weextend the standard generational accounting methodology incorporating tax and transfer ageprofiles by employment status. This permits us to analyse the possible intertemporal impact ofseveral future employment developments. In particular, we assess the fiscal effects of anexpected future increase in female labour force participation. We show that this trend does notnecessarily improve the intertemporal government budget, as social insurance in Spain is notactuarially fair. Finally, we also assess the impact of a decline in unemployment to the naturalrate of unemployment.en_US
dc.language.isoengen_US
dc.publisher|aInstitute for the Study of Labor (IZA) |cBonnen_US
dc.relation.ispartofseries|aIZA Discussion paper series |x306en_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.ppn843891246en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-

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