Generational accounting in Portugal : an assessment of long-term fiscal sustainability and intergenerational inequality
Autor(a) principal: | |
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Data de Publicação: | 2021 |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10400.5/26162 |
Resumo: | The social and economic developments in European countries have put pressure on their national budgets and threaten the sustainability of public policies. The traditional fiscal indicators, specifically, the deficit and the debt, which are still used today as guiding tools, have proved to be insufficient, due to their arbitrary nature and short-term focus. In this paper, we resort to an alternative fiscal indicator, known as ‘generational accounting’, which is able to incorporate the future changes in the demographic structure of the population, and their corresponding impact on public accounts. It is also able to evaluate how current fiscal policy affects, not only, current generations, but also future generations. We apply this methodology to assess the long-term fiscal situation of Portugal, and compare the results with those obtained in 1999. In this context, we also explore additional scenarios, as well as additional indicators, in order to provide some robustness to our findings. Our results show that, if the current fiscal policy is not significantly changed, future generations will face a much heavier fiscal burden than current generations. |
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Generational accounting in Portugal : an assessment of long-term fiscal sustainability and intergenerational inequalityGenerational accountingFiscal sustainabilityIntergenerational distributionOverlapping generationsNet tax paymentsPublic accountsThe social and economic developments in European countries have put pressure on their national budgets and threaten the sustainability of public policies. The traditional fiscal indicators, specifically, the deficit and the debt, which are still used today as guiding tools, have proved to be insufficient, due to their arbitrary nature and short-term focus. In this paper, we resort to an alternative fiscal indicator, known as ‘generational accounting’, which is able to incorporate the future changes in the demographic structure of the population, and their corresponding impact on public accounts. It is also able to evaluate how current fiscal policy affects, not only, current generations, but also future generations. We apply this methodology to assess the long-term fiscal situation of Portugal, and compare the results with those obtained in 1999. In this context, we also explore additional scenarios, as well as additional indicators, in order to provide some robustness to our findings. Our results show that, if the current fiscal policy is not significantly changed, future generations will face a much heavier fiscal burden than current generations.SpringerRepositório da Universidade de LisboaPinheiro, Jorge2022-11-22T15:58:52Z20212021-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.5/26162engPinheiro, Jorge (2021). "Generational accounting in Portugal : an assessment of long-term fiscal sustainability and intergenerational inequality". Portuguese Economic Journal, 20(2):181-2211617-982X10.1007/s10258-020-00180-6metadata only accessinfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-03-06T14:55:39Zoai:www.repository.utl.pt:10400.5/26162Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T17:09:52.489539Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
Generational accounting in Portugal : an assessment of long-term fiscal sustainability and intergenerational inequality |
title |
Generational accounting in Portugal : an assessment of long-term fiscal sustainability and intergenerational inequality |
spellingShingle |
Generational accounting in Portugal : an assessment of long-term fiscal sustainability and intergenerational inequality Pinheiro, Jorge Generational accounting Fiscal sustainability Intergenerational distribution Overlapping generations Net tax payments Public accounts |
title_short |
Generational accounting in Portugal : an assessment of long-term fiscal sustainability and intergenerational inequality |
title_full |
Generational accounting in Portugal : an assessment of long-term fiscal sustainability and intergenerational inequality |
title_fullStr |
Generational accounting in Portugal : an assessment of long-term fiscal sustainability and intergenerational inequality |
title_full_unstemmed |
Generational accounting in Portugal : an assessment of long-term fiscal sustainability and intergenerational inequality |
title_sort |
Generational accounting in Portugal : an assessment of long-term fiscal sustainability and intergenerational inequality |
author |
Pinheiro, Jorge |
author_facet |
Pinheiro, Jorge |
author_role |
author |
dc.contributor.none.fl_str_mv |
Repositório da Universidade de Lisboa |
dc.contributor.author.fl_str_mv |
Pinheiro, Jorge |
dc.subject.por.fl_str_mv |
Generational accounting Fiscal sustainability Intergenerational distribution Overlapping generations Net tax payments Public accounts |
topic |
Generational accounting Fiscal sustainability Intergenerational distribution Overlapping generations Net tax payments Public accounts |
description |
The social and economic developments in European countries have put pressure on their national budgets and threaten the sustainability of public policies. The traditional fiscal indicators, specifically, the deficit and the debt, which are still used today as guiding tools, have proved to be insufficient, due to their arbitrary nature and short-term focus. In this paper, we resort to an alternative fiscal indicator, known as ‘generational accounting’, which is able to incorporate the future changes in the demographic structure of the population, and their corresponding impact on public accounts. It is also able to evaluate how current fiscal policy affects, not only, current generations, but also future generations. We apply this methodology to assess the long-term fiscal situation of Portugal, and compare the results with those obtained in 1999. In this context, we also explore additional scenarios, as well as additional indicators, in order to provide some robustness to our findings. Our results show that, if the current fiscal policy is not significantly changed, future generations will face a much heavier fiscal burden than current generations. |
publishDate |
2021 |
dc.date.none.fl_str_mv |
2021 2021-01-01T00:00:00Z 2022-11-22T15:58:52Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10400.5/26162 |
url |
http://hdl.handle.net/10400.5/26162 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
Pinheiro, Jorge (2021). "Generational accounting in Portugal : an assessment of long-term fiscal sustainability and intergenerational inequality". Portuguese Economic Journal, 20(2):181-221 1617-982X 10.1007/s10258-020-00180-6 |
dc.rights.driver.fl_str_mv |
metadata only access info:eu-repo/semantics/openAccess |
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metadata only access |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
Springer |
publisher.none.fl_str_mv |
Springer |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
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Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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RCAAP |
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RCAAP |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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