Person
Jagadeesh Gokhale
Contributing Author
Jagadeesh Gokhale is a contributing author and former employee of the Federal Reserve Bank of Cleveland.
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Working Papers
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Working Paper
Does It Pay to Work?
06.01.2002 | WP 02-06Does it pay to work? This is a tough question to answer because of the complexity of the tax code and a plethora of dynamic linkages involved. -
Working Paper
The Mismatch Between Life Insurance Holdings and Financial Vulnerabilities: Evidence from the Survey of Consumer Finances
02.01.2002 | WP 02-01Using the 1995 Survey of Consumer Finances and an elaborate life-cycle model, we quantify the potential financial impact of each individual's death on his or her survivors. -
Working Paper
Who Gets Paid to Save?
09.01.2001 | WP 01-14Thanks to recent changes in the tax law, people can contribute more to their tax-deductible and non-tax-deductible savings plans, including 401(k) and Roth IRAs. But should they? -
Working Paper
The Mismatch Between Life Insurance Holdings and Financial Vulnerabilities: Evidence from the Health and Retirement Survey
07.01.2001 | WP 01-09Using data on older workers from the 1992 Health and Retirement Survey, along with an elaborate life-cycle planning model, the authors quantify the effect of each individual's death on the financial status of his or her survivors. -
Working Paper
Does Participating in a 401(k) Raise Your Lifetime Taxes?
06.01.2001 | WP 01-08This paper uses ESPlanner, a detailed, life-cycle personal financial planning model, to study the lifetime tax advantage gained by stylized young couples when they participate in a 401(k) plan. -
Working Paper
Life-Cycle Saving, Limits on Contributions to DC Pension Plans, and Lifetime Tax Benefits
04.01.2001 | WP 01-02This paper analyzes questions related to defined contribution (DC) plans. For what types of households are statutory contribution limits likely to bind? -
Working Paper
How Much Should Americans Be Saving for Retirement?
03.01.2000 | WP 00-02How much should Americans save prior to retirement? Given Social Security’s shaky financial condition, this is a critical question for baby boomers. -
Working Paper
The Impact of Social Security and Other Factors on the Distribution of Wealth
11.01.1999 | WP 99-13Auerbach et al. (1995), documents the dramatic postwar increase in the annuitization of the resources of America’s elderly. -
Working Paper
The Adequacy of Life Insurance Evidence from the Health and Retirement Survey
11.01.1999 | WP 99-14This study examines life insurance adequacy among married American couples approaching retirement based on the 1992 Health and Retirement Survey with matched Social Security earnings histories. -
Working Paper
Social Security's Treatment of Postwar Americans: How Bad Can It Get?
09.01.1999 | WP 99-12The authors consider Social Security’s treatment of postwar Americans under alternative tax increases and benefit cuts that would help bring the system’s finances into present-value balance. -
Working Paper
Simulating the Transmission of Wealth Inequality via Bequests
09.01.1998 | WP 98-11Answering the question of how much wealth inequality arises from inheritance inequality requires data that are unavailable and potentially uncollectable. -
Working Paper
Social Security Privatization: A Simple Proposal
04.01.1997 | WP 97-03This paper proposes a Social Security reform for the United States that gradually, but ultimately fully, privatizes the system. -
Working Paper
Demographic Change, Generational Accounts and National Saving in the United States
05.01.1996 | WP 96-03The recently developed method of generational accounting facilitates detailed measurement of fiscal policy’s impact on the intergenerational distribution of resources. -
Working Paper
Understanding the Postwar Decline in United States Saving: A Cohort Analysis
12.01.1995 | WP 95-18The rate of saving in the United States has declined dramatically in recent decades. -
Working Paper
The Annuitization of Americans' Resources: A Cohort Analysis
11.01.1994 | WP 94-13An analysis of the changes since 1960 in the share of Americans’ resources that are annuitized, which has declined slightly for younger Americans but has risen dramatically for the elderly. -
Working Paper
The Burden of German Unification: A Generational Accounting Approach
10.01.1994 | WP 94-12Germany recently introduced several unification-related tax measures for financing resource transfers to support the eastern economy. -
Working Paper
The Equity of Social Services Provided to Children and Senior Citizens
12.01.1993 | WP 93-11The authors show that given current policy, today’s and tomorrow’s children could end up paying as much as 70 percent of their lifetime income to the government, whereas the current elderly will pay only about 25 percent on average. -
Working Paper
Generational Accounting in Norway: Is the Nation Overconsuming its Petroleum Wealth?
10.01.1993 | WP 93-05This paper uses generational accounting to assess Norway’s fiscal position. Generational accounting measures the remaining lifetime net tax burdens facing different living generations. -
Working Paper
Do Hostile Takeovers Reduce Extramarginal Wage Payments?
12.01.1992 | WP 92-15Hostile takeovers may have significant implications for long-term employment contracts if they facilitate the opportunistic expropriation of extramarginal wage payments. -
Working Paper
Generational Accounting: The Case of Italy
08.01.1992 | WP 92-08This paper considers the implications of the current course of Italian fiscal policy for existing and future generations of Italians. -
Working Paper
Social Security and Medicare Policy from the Perspective of General Accounting
04.01.1992 | WP 92-06Our previous study (Auerbach, Gokhale, and Kotlikoff [1991]) introduced the concept of generational accounting, a method of determining how the burden of fiscal policy falls on different generations. -
Working Paper
Estimating A Firm's Age-Productivity Profile Using The Present Value Of Workers' Earnings
12.01.1991 | WP 91-19In hiring new workers, risk-neutral employers equate the present expected value of each worker’s compensation to the present expected value of his/her productivity. -
Working Paper
Generational Accounting: A New Approach for Understanding the Effects of Fiscal Policy on Saving
05.01.1991 | WP 91-07An application of generational accounting to fiscal policies that feature intergenerational redistribution. -
Working Paper
Generational Accounts: A Meaningful Alternative to Deficit Accounting
03.01.1991 | WP 91-03This paper presents a set of generational accounts that can be used to assess the fiscal burden that current generations are placing on future generations. -
Working Paper
What Does the Capital Income Tax Distort?
11.01.1990 | WP 90-13This paper decomposes the excess burden arising from capital income taxation into its static and intertemporal components. The analysis is based on a life-cycle model with a constant elasticity of substitution utility function in one durable and one nondurable good.
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Economic Commentaries
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Economic Commentary
Speaking of Accounting Scandals
08.01.2002 | EC 8/1/2002The better the information stockholders have about a firm’s prospective finances, the better their decisions on investing their money productively. -
Economic Commentary
Does Social Security Worsen Inequality?
08.15.2001 | EC 8/15/2001Gaps between the rich and poor grow once people hit retirement. Some say privatizing Social Security will increase wealth inequality among retirees. -
Economic Commentary
Fiscal Policy in an Era of Surpluses
04.15.2001 | EC 4/15/2001Federal surpluses have come as a pleasant surprise, but using them to finance additional government spending would be disastrous. -
Economic Commentary
The Baby Boomers’ Mega-Inheritance—Myth or Reality?
10.01.2000 | EC 10/1/2000Retirees are one of the wealthiest segments of the U.S. population, and today’s retirees have more wealth than any previous generation’s. -
Economic Commentary
Are We Saving Enough?
07.01.2000 | EC 7/1/2000Americans are saving less than theyused to. -
Economic Commentary
Fixing Social Security: Is the Surplus the Solution?
04.01.1999 | EC 4/1/1999On certain topics, confusion perpetually reigns. Everyone has a personal list, of course, but somewhere near the top of most is what to make of any debate that includes the words “Social Security.” -
Economic Commentary
Social Security’s Treatment of Postwar Generations
11.01.1998 | EC 11/1/1998The Social Security Administration’s (SSA’s) official projections indicate that paying benefits under current rules during the next 75 years will require a payroll tax hike of 2.2 percentage points. -
Economic Commentary
What Fiscal Surplus?
09.15.1998 | EC 9/15/1998The United States’ economic performance during the last two years has been spectacular. Inflation remained quiescent despite rapid output growth and plunging unemployment. -
Economic Commentary
Generational Equity and Sustainability in U.S. Fiscal Policy
04.15.1998 | EC 4/15/1998Policymakers’ budget perspectives show a puzzling dichotomy. -
Economic Commentary
Medicare: Usual and Customary Remedies Will No Longer Work
04.01.1997 | EC 4/1/1997Medicare was established in 1965 to ensure that all elderly Americans have access to quality health care. -
Economic Commentary
Structural Reform of the Social Security System: The Time Has Come
02.15.1997 | EC 2/15/1997After months of wrangling, Congress and the administration recently reached an agreement on how to balance the federal budget by the year 2002. -
Economic Commentary
A Simple Proposal for Privatizing Social Security
05.01.1996 | EC 5/1/1996In an area as contentious as federal budget policy-witness the tortuous road to the just recently settled budget for fiscal year 1996-lawmakers agree about one thing: The Social Security system as we know it is unsustainable in the long run. -
Economic Commentary
Social Security: Are We Getting Our Money's Worth?
01.01.1996 | EC 1/1/1996Consider the following investment scenario. You tum over 10 percent of your salary each year to an investment manager who pools your contributions with those of others to form something that looks like a mutual fund. -
Economic Commentary
Should Social Security Be Privatized?
09.15.1995 | EC 9/15/1995Many developed countries operate comprehensive public pension programs to protect the elderly against a wide range of adverse economic circumstances. -
Economic Commentary
Health Care Reform from a Generational Perspective
04.15.1994 | EC 4/15/1994Every so often in the course of public affairs, we reach a defining moment, beyond which our final decisions have the potential to shape legislative and cultural reality for decades to come. -
Economic Commentary
Back to the Future: Prospective Deficits through the Prism of the Past
03.15.1994 | EC 3/15/1994Approaching the halfway mark of fiscal year (FY) 1994, the Clinton administration’s first major piece of budget legislation — the Omnibus Budget Reconciliation Act of 1993 (OBRA93) — appears to be a smashing success. -
Economic Commentary
Long-Term Health Care: Is Social Insurance Desirable?
12.15.1993 | EC 12/15/1993The aging of the U.S. population portends steep increases in the demand for health care services well into the next century. -
Economic Commentary
The Budget Reconciliation Act of 1993: A Summary Report
10.15.1993 | EC 10/15/1993On August 5, the U.S. Senate cleared the Omnibus Budget Reconciliation Act of 1993 (OBRA93), one day after the House of Representatives had done likewise. -
Economic Commentary
The Decline in U.S. Saving Rates: A Cause for Concern?
09.15.1993 | EC 9/15/1993The surging federal budget deficit and health care reform proposals have been the subjects of choice in recent public policy debates. -
Economic Commentary
An Overview of the Clinton Budget Plan
03.01.1993 | EC 3/1/1993Virtually all government policies alter the allocation of economic resources. -
Economic Commentary
Has Someone Already Spent the Future?
07.01.1992 | EC 7/1/1992As massive budget deficits continue to push the national debt to record levels, Americans have grown increasingly concerned about how lawmakers’ seemingly irresistible urge to spend now and pay later may be compromising the nation’s economic future. -
Economic Commentary
Generational Accounts: A New Approach to Fiscal Policy Evaluation
11.15.1991 | EC 11/15/1991Despite recent attempts to impose discipline on the federal budget-making process, federal budget deficits have continued to escalate over the past several years. -
Economic Commentary
The Effect of War Expenditures on U.S. Output
02.15.1991 | EC 2/15/1991The war with Iraq has become the most extensive U.S. military involvement since Vietnam.
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