Generational Wealth Accounts: Did Public and Private Inter-Generational Transfers Offset Each Other over the Financial Crisis?
开发了代际财富账户，量化英国公共和私人部门在金融危机期间的代际转移，发现公共部门消费不可持续，但私人资本转移增加抵消了公共债务影响，使整体消费接近平衡。
Abstract We develop Generational Wealth Accounts (GWA): the first set of balance sheets, by generations, to include all human capital, tangible wealth, financial wealth, and transfer wealth, and the uses to which these are put, and employ them to quantify inter-generational transfers and the sustainability of consumption. Consumption plans in the UK public sector worsened over the financial crisis and are unsustainable; private sector plans improved, and are now almost balanced. Increases in private capital transfers to the young offset the effect of increased public debt. House price increases shifted resources from young to old but had little effect on sustainability.