01992cas a2200265 a 4500 AALejournalIMF007117 230101c9999 xx r poo 0 0eng d 5.00 USD 9781455227075 1018-5941 BD-DhAAL BD-DhAAL Batini, Nicoletta. 'An Analysis of U.S. Fiscal and Generational Imbalances : Who Will Pay and How?' / Nicoletta Batini, Julia Guerreiro, Giovanni Callegari. Washington, D.C. : International Monetary Fund, 2011. 1 online resource (38 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper updates existing measures of the U.S. fiscal gap to include federal laws up to and including the mid-December 2010 federal fiscal stimulus. It then applies the methodology of generational accounting to establish how the burden of adjustment required to attain fiscal sustainability is shared across generations. We find that the U.S. fiscal and generational imbalances are large under plausible parametric assumptions, and, while not much affected by the financial crisis, they have not improved much by the passing of the Final Healthcare Legislation. We find that, under our baseline scenario, a full elimination of the fiscal and generational imbalances would require all taxes to go up and all transfers to be cut immediately and permanently by 35 percent. A delay in the adjustment makes it more costly. Mode of access: Internet Callegari, Giovanni. Guerreiro, Julia. IMF Working Papers; Working Paper ; No. 2011/072 Full text available on IMF http://elibrary.imf.org/view/journals/001/2011/072/001.2011.issue-072-en.xml IMF e-Library