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| Author: | Chojnicki, X. Docquier, F. |
| Title: | Fiscal policy and educational attainment in the United States: A generational accounting perspective |
| Journal: | Economica
2007 : MAY, VOL. 74:294, p. 329-350 |
| Index terms: | fiscal policy public finance expenditure education USA |
| Language: | eng |
| Abstract: | This paper investigates the consequences of the rise in educational attainment (here as: ed-att.) on U.S. generational (as: gen.) accounts (as: accs.), based on the 1995 existing accs., and disaggregating them per schooling level. Contrary to medium- and high-skill newborns, it is shown that low-skill newborns are characterized by negative gen. accs. Compared to the results using traditional methodology, this study's baseline forecast is more optimistic. Nevertheless, the rise in ed-att. is not strong enough to restore the gen. balance. To balance the budget, either an tax increase by 1.2 percent is required, or a reduction in transfers by 2.7 percent. |
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