Generational Accounting: A New Approach to Understanding the Effects of Fiscal Policy on Saving
提出代际核算方法替代赤字核算，分析四种财政政策的再分配和储蓄效应，发现财政赤字不能可靠衡量代际政策或总需求刺激，且跨代再分配政策显著影响国民储蓄率。
An alternative to deficit accounting is proposed for understanding the government's treatment of current and future generations. The alternative, called generational accounting, is based on the government's intertemporal budget constraint. Generational accounting is used to describe the redistributive and saving impacts of four alternative policies. The findings indicate that the fiscal deficit is thoroughly unreliable as a measure of either generational policy or the policy-induced stimulus to aggregate demand. The findings also suggest that fiscal policies that redistribute across generations can have important effects on national saving rates. Copyright 1992 by The editors of the Scandinavian Journal of Economics.