How generational policy affects the sustainability of a government's fiscal policy. In these eight 2002 Cairoli Lectures, presented at the Universidad Torcuato di Tella in Buenos Aires, Argentina, Laurence Kotlikoff shows how generational policy works, how it is measured, and how much it matters. Kotlikoff discusses the incidence and measurement of generational policy, the relationship of generational policy to monetary policy, and the vacuity of deficits, taxes, and transfer payments as economic measures of fiscal policy. Kotlikoff also illustrates generational policy's general equilibrium effects with a dynamic life-cycle simulation model and reviews the empirical evidence testing intergenerational altruism and risk sharing. The lectures were delivered as Argentina faced a devastating depression triggered, in large part, by unsustainable generational policy. Throughout the book, Kotlikoff connects his messages about generational policy to the Argentine situation and the Argentine government's policy mistakes.

The realities of mounting government debt, tax burdens, and an aging population raise serious concerns about the financial legacy confronting future generations. How great a fiscal burden will current policies leave to subsequent generations, and how might changes in those policies alter the intergenerational distribution of public welfare? Generational accounting has recently emerged as a robust new method of fiscal analysis and planning designed to assess the long-term sustainability of fiscal policy and to measure the extent of the financial load ultimately borne by present and future generations. A seminal contribution to public economics, generational accounting has already been adopted by 23 nations around the world. Combining the latest and most extensive country-by-country generational analyses with a comprehensive review of generational accounting's innovative methodology, these papers are a consummate resource for economists, political scientists, and policy makers concerned with fiscal health and responsibility.

The members of the International Network for the Analysis of Intergenerational Relations (Generationes) proudly present the most recent issue of the jointly produced compendium "Generations, Intergenerational Relations and Generational Policy". This new version includes 17 languages: English, French, German, Italian, Spanish, Polish, Portuguese, Swedish, Hungarian, Turkish, Romanian, Lithuanian, Slovenian (new), Bosnian (new), Ukrainian (new), Russian (new) and Chinese (new). The layout of the compendium is designed for using it to translate the specific concepts and terminology of research into generations and intergenerational relations from one language into another.

'While there already exists a crowded body of publications addressing the effect of an aging population on the economy, this monograph is most outstanding in presenting a global, in-depth analysis of the implications thereby generated for 23 developed and developing countries. . . Scholars, researchers, and practitioners everywhere will benefit immensely from this comprehensive work.' – H.I. Liebling, Choice 'Ron Lee and Andrew Mason's Population Aging and the Generational Economy is a demographic and economic tour-de-force. Their collaborative, intercontinental. . . study of aging, consumption, labor supply, saving, and private and public transfers is the place to go to understand global aging and its myriad and significant economic challenges and opportunities.' – Laurence Kotlikoff, Boston University, US 'The culmination of. . . work by Lee, Mason, and their collaborators from around the world to extend Samuelson's framework to accommodate realistic demography, empirical measurement of age-specific earnings, consumption, tax payments, and benefit receipts, the studies. . . demonstrate the power of this integrated economic-demographic framework to advance our understanding of critical public policy challenges faced by countries at different stages of demographic transition and population aging.' – Robert Willis, University of Michigan, US 'Lee and Mason have done scholars and practitioners a magnificent service by undertaking this comprehensive, compelling, and supremely innovative examination of the economic consequences of changes in population age structure. The book is a bona fide crystal ball. It will be a MUST READ for the next decade!' – David Bloom, Harvard School of Public Health, US 'Population Aging and the Generational Economy provides an encompassing account of what we know about population aging and the impact that this process will have on our economies. It does not confine itself to the advanced industrial countries, where aging has already been largely studied, but adopts a truly global perspective. I am sure it will become a key reference for researchers, students and those involved in policy-making in areas that are affected by population aging.' – Giuliano Bonoli, Swiss Graduate School of Public Administration (IDHEAP), Switzerland Over coming decades, changes in population age structure will have profound implications for the macroeconomy, influencing economic growth, generational equity, human capital, saving and investment, and the sustainability of public and private transfer systems. How the future unfolds will depend on key actors in the generational economy: governments, families, financial institutions, and others. This path-breaking book provides a comprehensive analysis of the macroeconomic effects of changes in population age structure across the globe. The result of a substantial seven-year research project involving over 50 economists and demographers from Africa, Asia, Europe, Latin America, and the United States, the book draws on a new and comprehensive conceptual framework – National Transfer Accounts – to quantify the economic lifecycle and economic flows across generations. It presents comprehensive estimates of both public and private economic flows between generations, and emphasizes the global nature of changes in population age structure that are affecting rich and poor countries alike. This unique and informative book will prove an invaluable reference tool for a wide-ranging audience encompassing students, researchers, and academics in fields such as demography, aging, public finance, economic development, macroeconomics, gerontology, and national income accounting; for policy-makers and advisers focusing on areas of the public sector such as education, health, pensions, other social security programs, tax policy, and public debt; and for policy analysts at international agencies such as the World Bank, the IMF, and the UN.

Today the Millennial generation, the cohort born from the early 1980s to the late 1990s, is the largest generation in the United States. It exceeds one-quarter of the population and is the most diverse generation in U.S. history. Millennials grew up experiencing September 11, the global proliferation of the Internet and of smart phones, and the worst economic recession since the Great Depression of the 1930s. Their young adulthood has been marked by rates of unemployment and underemployment surpassing those of their parents and grandparents, making them the first generation in the modern era to have higher rates of poverty than their predecessors at the same age. The Politics of Millennials explores the factors that shape the Millennial generation’s unique political identity, how this identity conditions political choices, and how this cohort’s diversity informs political attitudes and beliefs. Few scholars have empirically identified and studied the political attitudes and policy preferences of Millennials, despite the size and influence of this generation. This book explores politics from a generational perspective, first, and then combines this with other group identities that include race and ethnicity to bring a new perspective to how we examine identity politics.

Multigenerational living – where more than one generation of related adults cohabit in the same dwelling – is recognized as a common arrangement amongst many Asian, Middle Eastern and Southern European cultures, but this arrangement is becoming increasingly familiar in many Western societies. Much Western research on multigenerational households has highlighted young adults' delayed first home leaving, the result of difficult economic prospects and the prolonged adolescence of generation Y. This book shows that the causes and results of this phenomenon are more complex. The book sheds fresh light on a range of structural and social drivers that have led multigenerational families to cohabit and the ways in which families negotiate the dynamic interactions amongst these drivers in their everyday lives. It critically examines factors such as demographics, the environment, culture and family considerations of identity, health, care and well-being, revealing how such factors reflect (and are reflected by) a retracting welfare state and changing understandings of families in an increasingly mobile world. Based on a series of qualitative and quantitative research projects conducted in Australia, the book provides an interdisciplinary examination of intergenerational cohabitation that explores a variety of concerns and experiences. It will appeal to scholars across the social sciences with interests in housing, demographics and the sociology of the family.

In an effort to bring all generations to an understanding of the American economy, Laurence Kotlikoff shares information of the budget deficit of the United States government. Generational Accounting strives to educate readers on how the economy of the United States American functions, from explaining who pays for the goods and services the nation receives to when it must be paid, and just how much money goes to it. Kotlikoff analyzes how the government’s budget deficit is the cornerstone of conventional economic policy and argues that it is a number devoid of economic content, often used to lead the American people astray. “Read it and you’ll be on the cutting edge of future debates on fiscal policy.” – Fortune