Who wins and who loses?
Subtitle: public transfer accounts for US generations born 1850 to 2090
By: Antoine Bommier ... [et al.].
Contributors: Bommier, Antoine.; National Bureau of Economic Research.
Series: NBER working paper series ;; working paper 10969; Working paper series (National Bureau of Economic Research : Online) ;; working paper no. 10969.
Publisher: National Bureau of Economic Research
Published: 2004
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Subjects: Transfer payments -- United States.
Description: "Public transfer programs in industrial nations have massive long term fiscal imbalances, and apparently permit the elderly to benefit through pension and health care programs at the cost of the young and future generations.  However, the intergenerational picture is turned upside down when public education is included in generational accounts along with pensions and health care.  We calculate the net present value (NPV) of benefits received minus taxes paid for US generations born 1850 to 2090, and find that all generations born from 1950 to 2050 are net gainers, while many of today's old people are net losers.  Windfall gains for early generations when Social Security and Medicare started up partially offset windfall losses when public education was started, roughtly consistent with the Becker-Murphy theory"--National Bureau of Economic Research web site.
Notes: Also available in print.
Includes bibliographical references.
Title from PDF file as viewed on 1/11/2005.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.