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Focusing on generational accounting, this book offers a comprehensive introduction to its theory and application in assessing fiscal policy sustainability amid demographic changes. It critiques the original residual concept and presents new measures of intergenerational redistribution. Utilizing German public finance data, the text illustrates practical applications and introduces innovative methods for evaluating fiscal externalities linked to migration and Social Security reform. This resource is essential for analysts and scholars interested in intertemporal redistribution through fiscal policy.

Among the concepts used to assess the sustainability of fiscal policy in a changing demographic environment, generational accounting has become the most prominent. This book gives a complete and up-to-date introduction to the theory and practice of the method. It reveals deficiencies of the original residual concept and discusses various measures of intergenerational redistribution based on the recent sustainability approach to generational accounting. An application using data on German public finances serves to provide an in-depth explanation and practical illustration of the technique. The study develops new procedures to evaluate the fiscal externalities of migration and the redistribution of net wealth among living generations resulting from Social Security reform. The book is an indispensable source of reference for analysts employing generational accounting and for those wishing to study intertemporal redistribution through fiscal policy.