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dc.contributor.authorBrumm, Johannesen_US
dc.contributor.authorKotlikoff, Laurenceen_US
dc.contributor.authorKubler, Felixen_US
dc.date.accessioned2021-04-28T15:55:39Z
dc.date.available2021-04-28T15:55:39Z
dc.date.issued2020-05-01
dc.identifier.citationJohannes Brumm, Laurence Kotlikoff, Felix Kubler. 2020. "Leveraging Posterity’s Prosperity?." AEA Papers and Proceedings. https://doi.org/10.1257/pandp.20201104
dc.identifier.issn2574-0768
dc.identifier.issn2574-0776
dc.identifier.urihttps://hdl.handle.net/2144/42429
dc.description.abstractWe critically review studies by Blanchard (B) and Rachel and Summers (RS). By the standard fiscal-gap measure, the US government is in dire fiscal shape thanks to constantly enlarging its postwar, take-as-you-go Ponzi scheme. Yet B and RS seemingly rationalize its expansion. Their arguments rest on the safe rate being very low. But almost all households face high safe rates--the rates available from pre-paying their loans. We also question modeling assumptions that help drive key B and RS results and reference recent simulation studies, which reach strongly opposite conclusions to B's.en_US
dc.description.urihttp://kotlikoff.net/articles
dc.format.extentp. 152 - 156en_US
dc.languageen
dc.language.isoen_US
dc.publisherAmerican Economic Associationen_US
dc.relation.ispartofAEA Papers and Proceedings
dc.titleLeveraging posterity’s prosperity?en_US
dc.typeConference materialsen_US
dc.identifier.doi10.1257/pandp.20201104
pubs.elements-sourcecrossrefen_US
pubs.notesEmbargo: Not knownen_US
pubs.organisational-groupBoston Universityen_US
pubs.organisational-groupBoston University, College of Arts & Sciencesen_US
pubs.organisational-groupBoston University, College of Arts & Sciences, Department of Economicsen_US
pubs.publication-statusPublisheden_US
dc.description.oaversionPublished version
dc.identifier.mycv562724


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