Fiscal Policy and Educational Attainment in the United States: A Generational Accounting Perspective
研究了美国教育成就提升对代际账户的影响，发现低技能新生儿代际账户为负，教育提升不足以恢复代际平衡，需增税1.2%或减转移支付2.7%。
In this paper we investigate the consequences of the rise in educational attainment on US generational accounts. We build on the 1995 existing accounts and disaggregate them per schooling level. Contrary to medium‐ and high‐skill newborns, we show that low‐skill newborns are characterized by negative generational accounts. Compared to the results obtained with the traditional methodology, our baseline forecast is more optimistic. Nevertheless, the rise in educational attainment is not strong enough to restore the generational balance. Balancing the budget requires increasing taxes by 1.2% or reducing transfers by 2.7%. Our results are robust to the main assumptions.