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On Stochastic Generational Accounting

  • Juha M. Alho
  • Reijo Vanne
Part of the International Studies In Population book series (ISIP, volume 3)

Part of the inheritance we leave to future generations is the (positive or negative) public net wealth. Depending on the country, the positive wealth may include roads, bridges, office buildings, hospitals, universities, natural parks etc. Such items resemble durable goods in that they depreciate at a relatively predictable rate.

In addition to state and municipalities, the public sector (or the general government) includes institutions that manage statutory pensions and unemployment and disability insurance. In Finland, most of the latter institutions are privately owned but they are included in the general government according to the national accounts standard. They own publicly traded stocks and other types of financial wealth. In some countries, such as Finland and Norway, the state also owns such assets.

Keywords

Gross Domestic Product Pension System Predictive Distribution Portfolio Policy Population Forecast 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer 2007

Authors and Affiliations

  • Juha M. Alho
    • 1
  • Reijo Vanne
    • 2
  1. 1.Department of StatisticsUniversity of JoensuuJoensuu
  2. 2.Finnish Pension AllianceHelsinkiFinland

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