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Solidarité intergénérationnelle et dette publique

Author

Listed:
  • Xavier Timbeau

    (OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po)

Abstract
Fund expenditure by debt or by taxes is it equivalent? Ricardo, formalized and extended by Barro, says that debt is a future tax and agents, conscious of the future, should not consider the use of debt as different of a deferred payment. But the framework of Barro is so special that the result is not likely. Public debt suspends the issue of funding. As generations pass, the older have the opportunity to escape taxation, while the youngest are exposed to this. But an analysis of funding choices may not be limited to who is paying. It must also take into account that the choice of expenditure and its financing involves the modification of the trajectory of the economy. The expenditure will benefit, according to its nature, more or less to the current generations or to the future one. The funding method should be chosen only on the basis of this criterion. More generally, assigning the goal of no impact on future generations is futile. Our choices have consequences in the future, directly or indirectly. We are tied to future generations.

Suggested Citation

  • Xavier Timbeau, 2011. "Solidarité intergénérationnelle et dette publique," Post-Print hal-03476056, HAL.
    • Handle: RePEc:hal:journl:hal-03476056
    DOI: 10.3917/reof.116.0191
    Note: View the original document on HAL open archive server: https://sciencespo.hal.science/hal-03476056
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    Cited by:

    1. Xavier Timbeau, 2012. "The fireman and the architect," Chapters, in: Robert M. Solow & Jean-Philippe Touffut (ed.), What’s Right with Macroeconomics?, chapter 1, pages 8-32, Edward Elgar Publishing.

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    More about this item

    Keywords

    Dette publique; Générations futures; Impôt; Dépenses publiques; Éducation;
    All these keywords.

    JEL classification:

    • I20 - Health, Education, and Welfare - - Education - - - General
    • H2 - Public Economics - - Taxation, Subsidies, and Revenue
    • H5 - Public Economics - - National Government Expenditures and Related Policies
    • H6 - Public Economics - - National Budget, Deficit, and Debt
    • D6 - Microeconomics - - Welfare Economics

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