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- Title
Intergenerational Aspects of Public Transfers, Borrowing and Debt.
- Authors
Lindbeck, Assar; Weibull, Jorgen W.
- Abstract
Intergenerational distribution effects of taxes, transfer payments, public borrowing and debt are analyzed. A two-period life-cycle model with overlapping generations is constructed. The model has two specific features: private wealth in both periods enters as an argument in the preference functions, and individuals (inelastically) supply labor in both periods. It turns out that some fiscal policy actions favor both of the generations currently living, possibly at the expense of future generations, while other actions generate conflicts between the generations currently living. It is shown to make considerable difference whether the "burden" of public spending, debt and borrowing is defined in terms of wealth, consumption or utility. The different implications of foreign vs. domestic debt are examined.
- Subjects
DISTRIBUTION (Economic theory); TAXATION; DEBT; LOANS; TRANSFER payments
- Publication
Scandinavian Journal of Economics, 1986, Vol 88, Issue 1, p239
- ISSN
0347-0520
- Publication type
Article
- DOI
10.2307/3440288