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Laurence Kotlikoff

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803:, called Limited Purpose Banking, transforms all financial companies with limited liability, including incorporated banks, insurance companies, financial exchanges, and hedge funds, into pass-through mutual funds, which do not borrow to invest in risky assets, but, instead, allows the public to directly choose what risks it wishes to bear by purchasing more or less risky mutual funds. According to Kotlikoff, Limited Purpose Banking keeps banks, insurance companies, hedge funds and other financial corporations from borrowing short and lending long, which leaves the public to pick up the pieces when things go south. Instead, Kotlikoff argues Limited Purpose Banking forces financial intermediaries to limit their activities to their sole legitimate purpose—financial inter-mediation. It would substitute the vast array of extant federal and state financial regulatory bodies with a single financial regulator called the Federal Financial Authority (FFA), which would have a narrow purpose namely to verify, disclose, and oversee the independent rating and custody off all securities purchased and sold by mutual funds. 617:," includes five regions (the U.S., Europe, Japan, China, and India), six goods, region-specific fiscal policy and demographics, and the endogenous determination of the pattern of specialization.. The most recent use of the Auerbach-Kotlikoff model has been to study, together with economists Felix Kubler, Andrey Polbin, and Simon Scheidegger, the economics of carbon change, particularly the optimal uniformly welfare-improving carbon-tax policy. This is the carbon tax cum side payments that produces the highest uniform welfare gain for all current and future generations in all regions of the world. 827:. In their place, every American would receive a voucher for a basic health insurance policy, whose coverages would be established by a panel of doctors such that the total cost of all vouchers remained within a fixed share, e.g., 10 percent, of GDP. The voucher would be provided by the government at no cost and its amount would be individually risk-adjusted, i.e., sicker people would receive larger vouchers. No health insurance company providing the basic insurance plan could turn anyone away and those who could afford supplemental health insurance plans would be free to purchase them. 749:
generations have been maximally exploited by older generations (who are assumed to have the ability to redistribute from the young to themselves), older generations can no longer extract resources for free, meaning they can no longer leave higher fiscal burdens for future generations without handing over a quid pro quo. At such an extreme, intergenerational transfers, per se, are no longer feasible because the young will refuse to accept them.
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Obama for demagoguery over word voucher—arguing that the current health care law relies on vouchers. He argues that the current Medicare program is unsustainable and that we have no choice but to embrace a plan with vouchers. In order to highlight his Purple Plans, Kotlikoff ran for the nomination of the Americans Elect platform in its short-lived effort to field a third-party candidate in the 2012 Presidential election.
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economy as one in which capital is primarily owed by the private sector. Kotlikoff claims that an economy that is described as having predominately privately owned wealth can just as well be described as one in which wealth is predominantly or, for that matter, entirely state-owned. Hence, "deficit delusion" implies that economic theory offers no precise measure/definition of capitalism, socialism, or communism.
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originally posited by Frank Ramsey in the 1920s. Its aggregation properties make it very convenient for teaching macro economics because one does not have to deal with the messiness of upwards of 100 overlapping generations acting independently, but also interdependently. Consequently, it has become a mainstay in graduate macroeconomics training and underlies the work by Economics Nobel Laureate
151: 610:, developed the first large-scale computable general equilibrium life-cycle model that can track the behavior, over time, of economies comprising large numbers of overlapping generations. The Auerbach-Kotlikoff model is widely used by economists to study the transition paths of closed as well as open economies as well as the dynamic impact of fiscal and other policies. 633:) by Kotlikoff, including work with co-authors, showing, via examples, that in economic models featuring rational agents, "the" deficit is a figment of language, not economics. I.e., the deficit is not economically well defined. Instead, what governments measure as "the" deficit is entirely a result of the language they use to label government receipts and payments. 721:
altruistically linked to Frank. Furthermore, if Frank loses a dollar and you gain a dollar, Barro's model implies that you Steve will take your newfound dollar and hand it to Frank. Kyle Bagwell and Douglas Bernheim independently reached Kotlikoff's conclusion, namely that the Barro model had patently absurd implications.
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borrowing $ 1,000 from you this year and will be taxing you in, say, five years the $ 1,000 plus accrued interest and using this future tax to pay you the principal plus interest due in the future on the current borrowing. With one set of words the deficit is $ 1,000 larger this year than with the other set of words.
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trillion and using it to pay principal plus interest on the $ 1 trillion it is now borrowing. With this alternative choice of words, the reported deficit is $ 1 trillion larger than with the first set of words. But in all three examples, you hand over $ 1,000 this year and receive and pay zero on net in the future.
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convention. Einstein showed that neither time nor distance were well-defined concepts, but could be measured in an infinite number of ways. The same is true of the deficit. Just like absolute time and distance are not well defined, the deficit and related conventional fiscal measures has no economic meaning.
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Kotlikoff is the President of Economic Security Planning, Inc., a company that markets MaxiFi Planner, an economics-based personal financial planning software program, and "Maximize My Social Security", a software program that helps Americans decide which Social Security benefits to take and when, to
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Notwithstanding his many studies overturning Ricardian Equivalence, on both theoretical and empirical grounds, Kotlikoff has a paper showing why intergenerational transfers may have no impact on the economy in a world of purely selfish life-cycle agents. The argument presented is simple. Once younger
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Kotlikoff has done pioneering work testing intergenerational altruism – the proposition that current generations care about their descendants enough to ensure that government redistribution from their descendants to themselves will be offset by private redistribution back to the descendants either in
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According to Kotlikoff, the deficit is not the only variable that is not well defined. An economy's aggregate tax revenue, its aggregate transfer payments, its disposable income, its personal and private saving rates, and its level of private wealth – all are non-economic concepts that have, from the
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Such models can feature all manner of individual and aggregate uncertainty, incomplete markets, distortionary fiscal policy, asymmetric information, borrowing constraints, time-inconsistent government policy, and a host of other problems, yet "the" deficit will still bear no theoretical connection to
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separating future government spending commitments and its means of paying for those commitments, portending dramatic increases in the lifetime net tax burdens facing young and future generations. The generational accounting and fiscal gap accounting developed by Auerbach, Gokhale, and Kotlikoff is a
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In life-cycle models without operative intergenerational altruism, the young are the big savers because of every dollar they receive, they save a larger percentage than do the elderly for the simple reason that the elderly are closer to the ends of their lives and want to use it before they lose it.
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Kotlikoff's singly and jointly authored work in the 1980s and 1990 called this model into question on both theoretical and empirical grounds. In a paper entitled "Altruistic Linkages within the Extended Family: A Note (1983)," which appears in Kotlikoff's 1989 MIT Press book What Determines Savings?
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According to Kotlikoff, their measurement reflects economically arbitrary fiscal labeling conventions. He argues that an "Economics labeling problem," as he calls it, has led to gross misreadings of the fiscal positions of different countries, starting with the United States, which has a relatively
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According to Kotlikoff, using the deficit as a guide to fiscal policy is like driving in Los Angeles with a map of New York City. For unlike in our physical world in which we are all using the same language (have the same frame of reference), in the world of economics, we are each free to adopt our
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According to Kotlikoff, the plan provides universal basic health insurance, retains private provision of healthcare, limits government healthcare spending to a fixed share of GDP, and avoids adverse selection. Kotlikoff has denounced critics of the plan such as economist Paul Krugman and President
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This inter-linkage of current and future generations devolves into a mathematical model which is isomorphic to one in which all agents are infinitely lived (i.e., they act as if they live for ever in so far as their progeny are front and center in their preferences). The infinitely-lived model was
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Kotlikoff, along with Harvard's Jerry Green, offered a general proof of the proposition that deficits and a number of other conventional fiscal measures are, economically speaking, content-free, concluding that the deficit is simply an arbitrary figment of language in all economic models involving
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So taking from the young and unborn and giving to the elderly should lead to a decline in national saving. In a 1996 paper with Jagadeesh Gokhale and John Sablehaus, Kotlikoff showed that the ongoing massive redistribution from young and future savers to old savers was responsible for the postwar
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I.e., if you, Steve, are altruistic toward your daughter, Sue, and your daughter marries John, who is altruistically linked to his father Ed, who has a daughter Sara who is altruistic toward her husband David, who cares about his sister Ida, who cares about her father-in-law Frank, you Steve are
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Kotlikoff chose the title of his paper with Green not to suggest in the slightest any comparison of intellect with Einstein, but rather because of what seemed to him to be a strikingly similar message about confusing linguistics for substance. An example here is the definition of a capitalistic
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In 1974, Robert Barro revived "Ricardian Equivalence" by showing in a simple, elegant framework that each generation's caring about its children leads current generations to be altruistically linked to all their descendants. Hence, a government policy of transferring resources to current older
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If it so chose, the government could say it was taxing you $ 1,000 this year and also, this year, borrowing $ 1 trillion from you for, say, five years, making a transfer payment to you this year of $ 1 trillion, and taxing you in five years an amount equal to principal plus interest on the $ 1
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Together with Assaf Razin and Robert Rosenthal, Kotlikoff showed in that dropping the unrealistic assumption that transfers are taken as given and permitting individuals to refuse transfers (e.g., refusing your mother's offer of an extra helping of cabbage) invalidates Barro's proposition of
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If Sally wishes to claim the opposite, there are words she can find to justify her view of the past stance of fiscal policy. And if Sam wishes to claim that that economy has experienced fluctuations from deficits to surpluses of arbitrary magnitude from year to year, he can do so. Language is
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Einstein taught us that neither time, nor distance are well-defined physical concepts. Instead, their measurement is relative to our frame of reference – how fast we were traveling in the universe and in what direction. Our physical frame of reference can be viewed as our language or labeling
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Kotlikoff's thesis examined, in a life-cycle simulation model, the impact of intergenerational redistribution on the long-run position of the economy. He also studied whether the rich spend a larger or smaller share of their lifetime resources than do the poor. And he provided a new empirical
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If the government calls a receipt a "tax," this lowers the reported deficit. If, instead, it calls the receipt "borrowing," it raises the reported deficit. Thus, if you give the government, say, $ 1,000 this year, it can say it is taxing you $ 1,000 this year. Alternatively, it can say it is
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Kotlikoff and Green claim that fiscal variables in all mathematical economic models involving rational agents can be labeled freely and tell us nothing about the models themselves (no more than does choosing to discuss the models in French or English), and this means that the multitudinous
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Kotlikoff, together with Alan Auerbach and Jagadeesh Gokhale, pioneered Generational Accounting, which measures the fiscal burdens facing today's and tomorrow's children. Kotlikoff's work on the relativity of fiscal language claims to show that conventional fiscal measures, including the
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own frame of reference – our own labeling convention. Thus, if Joe wants to claim that the U.S. federal government ran enormous surpluses for the last 50 years, he can simply choose appropriate words to label historic receipts and payments to produce that time series.
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real policy-induced economic outcomes. The reason, again, is that there is no single deficit, but rather an infinity of deficit or surplus policy paths that can be announced (by the government or any private agent) simply by choosing the "right" fiscal labels.
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generations at a cost to generations born, say, in 100 years would induce the current elderly to simply increase their gifts and bequests to their children who would pass the resources onward until it reached those born in 100 years.
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His plan calls for a 15% final (17.5% nominal) sales tax. The FICA tax ceiling is gone and the 7.65% of the employees contribution is applied on everything after $ 40,000 but the employer pays 7.65% on the employees entire salary.
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The unborn are, of course, the biggest savers because giving them an extra dollar (that they will be able to collect with interest when they arrive) leads them to consume nothing more in the present because they aren't yet alive.
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Ricardian Equivalence. I.e., they showed that Barro's model was a combination of a plausible set of preferences (altruism toward one's children) and an implausible assumption about the game being played by donors and donees.
575:, but, he argues, is in worse fiscal shape than any other developed country due to its unofficial, i.e., off-the-books, obligations. In 1991, Kotlikoff, together with Alan Auerbach and Jagadeesh Gokhale, produced the 3057: 2062: 3569: 457:, and other major outlets. Kotlikoff is a frequent guest on numerous podcasts and radio shows, and is routinely quoted by the media on a wide range of economic issues. Over the years, Kotlikoff has testified to 3592: 3199: 2249: 3597: 3203: 3069: 2244: 3667: 3689: 529:
approach to understanding the impact of Social Security on saving. At UCLA, Kotlikoff wrote a paper with Avia Spivak on intra-family risk-sharing entitled "The Family as an Incomplete Annuities Market."
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proposal as a replacement for the federal tax code, contributing to research of plan's effects and the required rate for revenue neutrality. In 2010, Kotlikoff offered his own tax proposal, titled the
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econometric studies relating well-defined economic variables, such as interest rates or aggregate personal consumption, to "the" deficit are, economically speaking, content free.
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perspective of economic theories with rational agents, no more purchase on economic reality than does the emperor's clothes in Hans Christian Andersen's famous children's story.
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In 1984, Kotlikoff wrote a fundamental paper entitled "Deficit Delusion", which appeared in The Public Interest. This was the first of a series of papers and books (see, e.g.,
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The Wage Carrot and the Pension Stick: Retirement Benefits and Labor Force Participation (with David Wise), The W. E. Upjohn Institute for Employment Research, 1989.
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Spend 'Til the End – The Revolutionary Guide to Raising Your Living Standard, Today and When You Retire. Simon & Schuster, (with Scott Burns), 2008.
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Kotlikoff fervently dislikes both major political parties and has called for a third party. In January 2012, Kotlikoff announced his plans to run as a
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Kotlikoff showed that when agents take each other's transfers as given, marriage generates intergenerational linkages between unrelated individuals.
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In the 2016 Presidential Election, Kotlikoff ran as a registered, write-in candidate. He was defeated by Republican candidate Donald Trump.
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Generational Accounting Around the World, co-edited with Alan Auerbach and Willi Leibfritz, NBER volume, University of Chicago Press, 1999.
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A relatively recent incarnation of the Auerbach-Kotlikoff model is a paper by Hans Fehr, Sabine Jokisch, and Laurence Kotlikoff entitled "
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In a series of empirical papers with Stanford economist Michael Boskin, University of Pennsylvania economist Andrew Abel, Yale economist
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Get What's Yours: The Secrets to Maxing Out Your Social Security (with Philip Moeller and Paul Solman), Simon and Schuster, 2015.
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Spend 'til the End: The Revolutionary Guide to Raising Your Living Standard – Today and When You Retire', Simon & Schuster.
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Jimmy Stewart is Dead – Ending the World's Ongoing Financial Plague with Limited Purpose Banking. John Wiley and Sons, 2010.
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means of assessing the sustainability of fiscal policy and how different countries intend to treat their progeny. Recent
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in 1984, where he twice chaired its Department of Economics, and was named a William Warren Fairfield Professor in 2009.
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candidate for President of the United States in 2012. Kotlikoff said he would seek the presidential nomination of the
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Kessler, Denis; Masson, Andre (1989). "Bequest and Wealth Accumulation: Are Some Pieces of the Puzzle Missing?".
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accumulation. The publication suggested that most of U.S. wealth accumulation was not attributed to life-cycle
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https://kotlikoff.net/wp-content/uploads/2019/03/Youre-Hired-A-Trump-Playbook-For-Fixing-Americas-Economy-1.pdf
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Kotlikoff has commented regularly on contemporary issues and public affairs. His columns have appeared in the
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extremely flexible. And there is nothing in economic theory that pins down how we discuss economic theory.
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ceased operations. Kotlikoff ran for president in 2016 as an independent alongside his vice president,
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Kotlikoff has written that the economic future is bleak for the United States without tax reform,
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Jimmy Stewart Is Dead: Ending the World's Ongoing Financial Plague with Limited Purpose Banking
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Macroeconomics: An Integrated Approach (with Alan Auerbach), Southwestern Publishing Co., 1994.
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Macroeconomics: An Integrated Approach Second Edition, (with Alan Auerbach), MIT Press, 1998.
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Pensions in the American Economy (with Daniel Smith), University of Chicago Press, 1983.
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by Kotlikoff claim to confirm the truly severe long-run fiscal problems facing the U.S.
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The Coming Generational Storm: What You Need to Know about America's Economic Future'
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The Coming Generational Storm: What You Need to Know about America’s Economic Future
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https://kotlikoff.net/wp-content/uploads/2024/02/Vita-2-21-24-Laurence-Kotlikoff.pdf
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government's deficit, are not well defined from the perspective of economic theory.
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Dynamic Globalization and Its Potentially Alarming Prospects for Low-Wage Workers
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Essays on Saving, Bequests, Altruism, and Life-Cycle Planning, MIT Press, 2001.
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on tax reform, generational policy, and other economic issues on 19 occasions.
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Dynamic Fiscal Policy (with Alan Auerbach), Cambridge University Press, 1987.
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The Healthcare Fix – Universal Insurance for All Americans, MIT Press, 2007.
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as a senior economist (1981-1982). He became a professor of economics at
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Gokhale, Jagadeesh; Kotlikoff, Laurence J.; Sabelhaus, John (May 1996).
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at Yale till 1984, during which time he was a research associate at the
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The Coming Generational Storm, (with Scott Burns), MIT Press, 2004.
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The Economic Consequences of the Vickers Commission, Civitas, 2012.
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Kotlikoff's proposed reform of the financial system, discussed in
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link to chapter links, via right-arrow at top to pp. 11–12.
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Generational Policy, The 2002 Caroli Lectures, MIT Press, 2003.
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from the article and its talk page, especially if potentially
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Obama Might Trade Parties With Paul Ryan: Laurence Kotlikoff
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Kotlikoff, Laurence; Moeller, Philip; Solman, Paul (2015).
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first set of generational accounts] for the United States.
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Candidates in the 2016 United States presidential election
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Candidates in the 2012 United States presidential election
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Generational Accounting, The Free Press, 1992. Kotlikoff
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Niall Ferguson; Laurence Kotlikoff (December 2, 2009).
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Kotlikoff, Laurence J.; Summers, Lawrence H. (1981).
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In the late 1970s, Kotlikoff, together with Berkeley
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Fellows of the American Academy of Arts and Sciences
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" 752: 555: 149: 56:about living persons that is unsourced or 1814: 1783: 1755:Kotlikoff, Laurence (September 7, 2007). 1754: 1700: 1638:"Why cautious reform is the risky option" 1605:"How to take moral hazard out of banking" 1563: 1519:. The Wall Street Journal. Archived from 1511: 1505: 1478: 1407: 1057: 1016: 916:What Determines Savings, MIT Press, 1989. 621:The general relativity of fiscal language 536:questioning the importance of saving for 127:Learn how and when to remove this message 2992:2016 United States presidential election 2033:2012 United States presidential election 1696: 1694: 1692: 1690: 1668:Laurence J. Kotlikoff (March 17, 2010). 1548:. Bloomberg BusinessWeek. Archived from 1537: 1343: 1341: 532:He also wrote a widely cited paper with 1433: 1257:Gaylican, Christine (January 9, 2012). 1183:"Registered Author: Laurence Kotlikoff" 945:, v. 4, pp. 413–18. Stockton Press 942:New Palgrave: A Dictionary of Economics 266:(born January 30, 1951) is an American 4547: 4066:third-party and independent candidates 2426:third-party and independent candidates 1750: 1748: 1746: 1744: 1742: 963:, July/August, 88(4), pp. 235–49. 779:Kotlikoff has been a supporter of the 656: 4062: 2959: 2422: 2000: 1862:Palmer, Kimberly (January 10, 2012). 1836:"Econ professor to run for president" 1815:Kotlikoff, Laurence (July 19, 2011). 1784:Kotlikoff, Laurence (June 15, 2011). 1701:Kotlikoff, Laurence (April 5, 2011). 1687: 1569: 1338: 1252: 1250: 959:," Federal Reserve Bank of St. Louis 416:American Academy of Arts and Sciences 402:since 1980, and a research fellow at 1117: 1115: 1113: 1111: 1109: 1107: 1105: 834: 581:Their study claimed to find a major 18: 1834:Censky, Annalyn (January 5, 2012). 1739: 1543: 1134:"Laurence J. Kotlikoff | Economics" 867:get the highest lifetime benefits. 343:Born in 1951, Kotlikoff received a 13: 4600:Fellows of the Econometric Society 1512:Kotlikoff, Laurence (2005-03-07). 1247: 379:from 1980 to 1981, and then as an 14: 4636: 4625:University of Pennsylvania alumni 4575:21st-century American politicians 1976: 1102: 1069:Concise Encyclopedia of Economics 1028:Concise Encyclopedia of Economics 861: 853:Reform Party of the United States 693:gifts. This proposition dates to 523: 478:Reform Party of the United States 4565:21st-century American economists 1395:Journal of Economic Perspectives 1074:Library of Economics and Liberty 1033:Library of Economics and Liberty 879:The Clash of Generations, (with 414:in 1992, and was elected to the 363:in 1977. After three years as a 23: 16:American academic and politician 4120:American Party (South Carolina) 1946: 1935: 1909: 1883: 1855: 1827: 1808: 1796: 1777: 1661: 1649:from the original on 2022-12-12 1628: 1616:from the original on 2022-12-12 1595: 1584: 1487: 1458: 1445: 1424: 1385: 1058:Kotlikoff, Laurence J. (2002). 1017:Kotlikoff, Laurence J. (2008). 464:Kotlikoff attempted to run for 387:(1980-1984), and served on the 1635:Martin Wolf (April 27, 2010). 1546:"Herman Cain's Other Tax Plan" 1294: 1283: 1223: 1199: 1175: 1150: 1126: 1031:(2nd ed.). Indianapolis: 996:and chapter-preview links, p. 957:Is the United States Bankrupt? 955:Laurence J. Kotlikoff, 2006, " 466:President of the United States 331:Quarterly Journal of Economics 298:, economic guides to personal 1: 2483:American Third Position Party 968:Drifting to Future Bankruptcy 948:Laurence J. Kotlikoff, 1992, 932: 806: 768:The Coming Generational Storm 406:since 1999. He was elected a 4484:Other Independent candidates 3124:Electoral College vote count 1921:Independent Political Report 1895:Independent Political Report 1869:U.S. News & World Report 1514:"The Case for the 'FairTax'" 1358:Journal of Political Economy 1311:Journal of Political Economy 1264:International Business Times 598:The Auerbach-Kotlikoff Model 389:Council of Economic Advisers 337:Journal of Political Economy 274:since 1984. A specialist in 34:biography of a living person 7: 1942:Maximize My Social Security 1471:NBER Working Paper No. 5571 736:Generational redistribution 518: 61:must be removed immediately 10: 4641: 4570:21st-century American Jews 4560:20th-century American Jews 2434:American Independent Party 1211:www.econometricsociety.org 794: 682:Intergenerational altruism 559: 488:, a renowned economist at 353:University of Pennsylvania 184:University of Pennsylvania 4605:Harvard University alumni 4580:Boston University faculty 4518: 4499: 4483: 4462: 4443: 4414: 4378: 4357: 4336: 4315: 4255: 4236: 4178: 4159: 4140:American Solidarity Party 4138: 4119: 4076: 4072: 4058: 4005: 3952: 3929: 3918: 3850: 3827: 3809: 3635: 3565: 3540: 3231: 3180: 3148: 3144: 3003: 2922: 2854: 2818: 2797: 2774: 2728: 2699: 2652: 2631: 2602: 2579: 2561: 2510: 2481: 2432: 2418: 2365: 2347: 2340: 2287: 2274: 2267: 2225: 2218: 2126: 2103: 2096: 2044: 1544:Coy, Peter (2011-10-19). 972:The Philadelphia Inquirer 257: 246: 236: 226: 216: 211: 207: 179: 157: 148: 141: 4359:Socialist Equality Party 3023:(D), 227 electoral votes 3013:(R), 304 electoral votes 2776:Socialist Equality Party 2633:Socialism and Liberation 2078:General election debates 1096: 870: 774: 771:and other publications. 745:decline in U.S. saving. 709:and other economists on 687:the form of bequests or 325:American Economic Review 264:Laurence Jacob Kotlikoff 162:Laurence Jacob Kotlikoff 4416:Socialist Workers Party 4257:Peace and Freedom Party 2855:Independents and others 2799:Socialist Workers Party 2654:Peace and Freedom Party 2571:Nominee: Stephen Durham 2563:Freedom Socialist Party 1670:"Jimmy Stewart Is Dead" 950:Generational Accounting 753:Policy reform proposals 627:Generational Accounting 588:generational accounting 562:Generational accounting 556:Generational accounting 252:IDEAS / RePEc 3627:VP candidate selection 3224:VP candidate selection 3092:Newspaper endorsements 2540:VP nominee: Jim Clymer 2161:Incumbent VP nominee: 2083:Newspaper endorsements 1959:. Simon and Schuster. 1735:The Purple Health Plan 1674:www.huffingtonpost.com 763:Social Security reform 689: 48:Please help by adding 3690:Democratic opposition 1572:"The Purple Tax Plan" 1570:Kotlikoff, Laurence. 1440:Dynamic Fiscal Policy 801:Jimmy Stewart Is Dead 592:fiscal gap accounting 560:Further information: 540:in determining total 4524:Other 2016 elections 4405:Angela Nicole Walker 4078:American Delta Party 3114:Russian interference 2928:Other 2012 elections 1187:econpapers.repec.org 1158:"Laurence Kotlikoff" 296:fiscal progressivity 76:"Laurence Kotlikoff" 54:Contentious material 4464:Workers World Party 4380:Socialist Party USA 3734:Paul T. Farrell Jr. 3570:Political positions 2136:Incumbent nominee: 1643:The Financial Times 1610:The Financial Times 1552:on October 22, 2011 1418:10.1257/jep.3.3.141 1162:Hachette Book Group 883:), MIT Press, 2012. 825:Affordable Care Act 711:Real Business Cycle 657:Frames of reference 631:Generational Policy 499:Wall Street Journal 427:Wall Street Journal 412:Econometric Society 381:associate professor 373:assistant professor 365:postdoctoral fellow 4491:Laurence Kotlikoff 4181:Constitution Party 4095:Rocky De La Fuente 4022:Better for America 3934:Debates and forums 3832:Debates and forums 3722:Rocky De La Fuente 3580:Debates and forums 3184:Debates and forums 3119:Faithless electors 2749:Laurence Kotlikoff 2512:Constitution Party 2501:Virginia Abernethy 2449:Other candidates: 1759:The Healthcare Fix 1499:2006-08-28 at the 1064:David R. Henderson 1023:David R. Henderson 813:The Healthcare Fix 811:In his 2007 book, 759:health care reform 371:, he taught as an 361:Harvard University 359:in economics from 300:financial behavior 193:Harvard University 143:Laurence Kotlikoff 4615:Public economists 4542: 4541: 4514: 4513: 4510: 4509: 4506: 4505: 4317:Prohibition Party 4299:Other candidates: 4110:Michael Steinberg 4001: 4000: 3914: 3913: 3812:Libertarian Party 3805: 3804: 3536: 3535: 2953: 2952: 2918: 2917: 2903:Michael Bloomberg 2861:Objectivist Party 2845:Alejandro Mendoza 2830:Stewart Alexander 2746:Other candidates: 2717:Other candidates: 2701:Prohibition Party 2681:Stewart Alexander 2678:Other candidates: 2622:Luis J. Rodriguez 2545:Other candidates: 2414: 2413: 2401:Stewart Alexander 2398:Other candidates: 2336: 2335: 2268:Libertarian Party 2263: 2262: 2214: 2213: 1473:. Cambridge, MA. 1207:"Current Fellows" 1060:"Federal Deficit" 835:Political parties 649:rational agents. 573:debt-to-GDP ratio 550:Franco Modigliani 486:Dr. Edward Leamer 393:Boston University 385:Cowles Foundation 316:healthcare reform 308:marginal taxation 272:Boston University 261: 260: 231:Boston University 137: 136: 129: 111: 37:needs additional 4632: 4474:Monica Moorehead 4338:Socialist Action 4302:Monica Moorehead 4288:PSL VP nominee: 4262: 4224:Other candidates 4083: 4074: 4073: 4060: 4059: 4012: 3989:Other candidates 3927: 3926: 3892:Other candidates 3825: 3824: 3818: 3706:Other candidates 3563: 3562: 3556: 3549: 3543:Democratic Party 3287:Other candidates 3178: 3177: 3171: 3164: 3157: 3151:Republican Party 3146: 3145: 2980: 2973: 2966: 2957: 2956: 2908:attempt to draft 2581:Grassroots Party 2468:Edward C. Noonan 2420: 2419: 2345: 2344: 2319:Other candidates 2272: 2271: 2223: 2222: 2219:Republican Party 2101: 2100: 2097:Democratic Party 2021: 2014: 2007: 1998: 1997: 1971: 1970: 1956:Get What's Yours 1950: 1944: 1939: 1933: 1932: 1930: 1928: 1913: 1907: 1906: 1904: 1902: 1887: 1881: 1880: 1878: 1876: 1859: 1853: 1852: 1850: 1848: 1831: 1825: 1824: 1812: 1806: 1800: 1794: 1793: 1781: 1775: 1774: 1762: 1752: 1737: 1732: 1717: 1716: 1698: 1685: 1684: 1682: 1680: 1665: 1659: 1658: 1656: 1654: 1640: 1632: 1626: 1625: 1623: 1621: 1607: 1599: 1593: 1588: 1582: 1581: 1579: 1578: 1567: 1561: 1560: 1558: 1557: 1541: 1535: 1534: 1532: 1531: 1525: 1518: 1509: 1503: 1491: 1485: 1484: 1482: 1462: 1456: 1449: 1443: 1437: 1431: 1428: 1422: 1421: 1411: 1389: 1383: 1382: 1354: 1345: 1336: 1335: 1307: 1298: 1292: 1287: 1281: 1280: 1278: 1276: 1267:. Archived from 1254: 1245: 1244: 1242: 1241: 1227: 1221: 1220: 1218: 1217: 1203: 1197: 1196: 1194: 1193: 1179: 1173: 1172: 1170: 1169: 1154: 1148: 1147: 1145: 1144: 1130: 1124: 1119: 1077: 1072:(1st ed.). 1054: 952:, The Free Press 692: 608:Alan J. Auerbach 534:Lawrence Summers 241:Martin Feldstein 175: 172:January 30, 1951 171: 169: 153: 139: 138: 132: 125: 121: 118: 112: 110: 69: 50:reliable sources 27: 26: 19: 4640: 4639: 4635: 4634: 4633: 4631: 4630: 4629: 4545: 4544: 4543: 4538: 4502: 4495: 4479: 4458: 4453:Bradford Lyttle 4439: 4410: 4374: 4353: 4332: 4311: 4260: 4259: 4251: 4237:Nutrition Party 4232: 4174: 4160:America's Party 4155: 4134: 4115: 4081: 4080: 4068: 4054: 4010: 4009: 3997: 3948: 3910: 3901:Austin Petersen 3846: 3816: 3815: 3801: 3751:Martin O'Malley 3739:Lawrence Lessig 3649:Hillary Clinton 3631: 3554: 3547: 3546: 3532: 3227: 3169: 3162: 3155: 3154: 3140: 3024: 3017:Hillary Clinton 2999: 2984: 2954: 2949: 2914: 2850: 2820:Socialist Party 2814: 2793: 2770: 2724: 2695: 2648: 2627: 2598: 2575: 2557: 2506: 2477: 2428: 2410: 2361: 2332: 2283: 2259: 2245:Statewide polls 2210: 2122: 2092: 2088:Hurricane Sandy 2059:Statewide polls 2040: 2025: 1979: 1974: 1967: 1951: 1947: 1940: 1936: 1926: 1924: 1915: 1914: 1910: 1900: 1898: 1889: 1888: 1884: 1874: 1872: 1860: 1856: 1846: 1844: 1832: 1828: 1813: 1809: 1805:, Business Week 1801: 1797: 1782: 1778: 1771: 1753: 1740: 1733: 1720: 1713: 1699: 1688: 1678: 1676: 1666: 1662: 1652: 1650: 1633: 1629: 1619: 1617: 1600: 1596: 1591:Purple Tax Plan 1589: 1585: 1576: 1574: 1568: 1564: 1555: 1553: 1542: 1538: 1529: 1527: 1523: 1516: 1510: 1506: 1501:Wayback Machine 1492: 1488: 1463: 1459: 1450: 1446: 1438: 1434: 1429: 1425: 1409:10.1.1.511.4342 1390: 1386: 1352: 1346: 1339: 1305: 1299: 1295: 1288: 1284: 1274: 1272: 1271:on July 1, 2012 1255: 1248: 1239: 1237: 1229: 1228: 1224: 1215: 1213: 1205: 1204: 1200: 1191: 1189: 1181: 1180: 1176: 1167: 1165: 1156: 1155: 1151: 1142: 1140: 1132: 1131: 1127: 1120: 1103: 1099: 1043: 935: 873: 864: 849:Americans Elect 847:advocacy group 837: 809: 797: 777: 755: 738: 684: 659: 623: 600: 590:by the IMF and 564: 558: 526: 521: 482:Americans Elect 474:Americans Elect 443:Financial Times 377:Yale University 355:in 1973, and a 320:social security 288:carbon taxation 212:Academic career 191: 173: 167: 165: 164: 163: 144: 133: 122: 116: 113: 70: 68: 47: 28: 24: 17: 12: 11: 5: 4638: 4628: 4627: 4622: 4617: 4612: 4607: 4602: 4597: 4592: 4587: 4582: 4577: 4572: 4567: 4562: 4557: 4540: 4539: 4537: 4536: 4531: 4519: 4516: 4515: 4512: 4511: 4508: 4507: 4504: 4503: 4500: 4497: 4496: 4494: 4493: 4487: 4485: 4481: 4480: 4478: 4477: 4468: 4466: 4460: 4459: 4457: 4456: 4447: 4445: 4444:Pacifist Party 4441: 4440: 4438: 4437: 4429: 4426:Alyson Kennedy 4420: 4418: 4412: 4411: 4409: 4408: 4400: 4399: 4398: 4384: 4382: 4376: 4375: 4373: 4372: 4363: 4361: 4355: 4354: 4352: 4351: 4342: 4340: 4334: 4333: 4331: 4330: 4321: 4319: 4313: 4312: 4310: 4309: 4304: 4295: 4294: 4290:Eugene Puryear 4285: 4277: 4274:Gloria La Riva 4268: 4266: 4253: 4252: 4250: 4249: 4240: 4238: 4234: 4233: 4231: 4230: 4225: 4222: 4214: 4213: 4212: 4205:Darrell Castle 4202: 4198: 4197: 4192: 4186: 4184: 4176: 4175: 4173: 4172: 4163: 4161: 4157: 4156: 4154: 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Wiley. 1679:23 August 1653:23 August 1620:23 August 1404:CiteSeerX 1332:153598067 1091:163149563 1083:317650570 1051:237794267 982:MIT Press 604:economist 494:Bloomberg 431:Bloomberg 418:in 2005. 351:from the 349:economics 268:economist 180:Education 39:citations 4396:campaign 4210:campaign 4101:campaign 4035:campaign 3970:campaign 3868:campaign 3790:campaign 3785:Jim Webb 3768:campaign 3756:campaign 3744:campaign 3727:campaign 3715:campaign 3655:campaign 3593:national 3526:campaign 3514:campaign 3497:campaign 3480:campaign 3463:campaign 3451:campaign 3429:campaign 3417:campaign 3400:campaign 3388:campaign 3376:campaign 3364:campaign 3337:campaign 3332:Ted Cruz 3325:campaign 3313:campaign 3296:campaign 3291:Jeb Bush 3266:protests 3251:campaign 3200:national 3109:Recounts 3082:Timeline 3058:pre-2016 3046:by demo. 3041:national 2836:campaign 2759:campaign 2533:campaign 2461:campaign 2381:campaign 2312:Jim Gray 2303:campaign 2144:campaign 2073:Timeline 2063:pre-2012 1841:CNNMoney 1647:Archived 1614:Archived 1497:Archived 1379:54180097 1087:50016270 1019:"Saving" 821:Medicaid 817:Medicare 713:models. 519:Research 476:and the 459:Congress 65:libelous 4201:Nominee 3959:Nominee 3857:Nominee 3644:Nominee 3610:Results 3240:Nominee 3214:Results 3198:Polls ( 3097:primary 3087:Debates 2783:Nominee 2588:Nominee 2240:Debates 2181:Bob Ely 2118:Results 1927:June 9, 1901:May 12, 1066:(ed.). 1025:(ed.). 1010:Preview 795:Finance 781:FairTax 410:of the 101:scholar 4529:Senate 4085:Reform 4064:Other 3589:Polls 3037:Polls 2996:2020 → 2988:← 2012 2940:Senate 2424:Other 2037:2016 → 2029:← 2008 1992:C-SPAN 1963:  1767:  1709:  1406:  1377:  1330:  1081:  1049:  1039:  988:  961:Review 761:, and 571:small 546:saving 502:, the 496:, the 445:, the 441:, the 437:, the 435:Forbes 425:, the 408:Fellow 404:CESifo 328:, the 318:, and 103:  96:  89:  82:  74:  4534:House 3603:straw 3208:straw 2935:House 1524:(PDF) 1517:(PDF) 1375:S2CID 1353:(PDF) 1328:S2CID 1306:(PDF) 1097:Notes 1062:. 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