Most widely held works by Jagadeesh Gokhale
Social security : a fresh look at policy alternatives by Jagadeesh Gokhale ( Book )
6 editions published in 2010 in English and Undetermined and held by 276 libraries worldwide
"Many of us suspect that Social Security faces eventual bankruptcy. But the government projects its future finances using long outdated methods. Employing a more up-to-date approach. Jagadeesh Gokhale here argues that the program faces insolvency far sooner than previously thought." "To assess Social Security's fate more accurately under current and alternative policies. Gokhale constructs a detailed simulation of the forces shaping American demographics and the economy to project their future evolution. He then uses this simulation to analyze six prominent Social Security reform packages - two liberal, two centrist, and two conservative - to demonstrate how far they would restore the program's financial health and which population groups would be helped or hurt in the process." "Arguments over Social Security have raged for decades. but they have taken place in a relative informational vacuum; Social Security provides the necessary bedrock of analysis that will prove vital for anyone with a stake in this important debate."--BOOK JACKET.
Fiscal and generational imbalances : new budget measures for new budget priorities by Jagadeesh Gokhale ( Book )
5 editions published in 2003 in English and held by 263 libraries worldwide
Generational accounts for the United States an update ( Book )
2 editions published in 2000 in English and held by 173 libraries worldwide
Although relatively new, generational accounting has been used in 26 countries to evaluate the generational stance of national fiscal policies. Generational accounting calculates the size of prospective net tax burdens and lifetime net tax rates that different generations face under current fiscal policy-information that standard budget presentations do not reveal. This method can also be used to calculate the policy changes required for achieving a generationally balanced and therefore sustainable fiscal policy that implies equal lifetime net tax rates on today's newborns and future generations (those born after 1998). Calculations made two years ago suggested a sizable generational imbalance in U.S. fiscal policy, implying lifetime net tax rates on future generations that are 72 percent higher than those on newborns in 1995. Since then, unexpectedly strong growth in both gross domestic product (GDP) and the tax share of GDP has boosted revenues, and slow growth in defense spending has reduced federal purchases as a share of GDP to a postwar low. Those developments augur federal budget surpluses for at least a decade and portend a corresponding reduction in the generational imbalance.
Simulating the transmission of wealth inequality via bequests ( Book )
8 editions published between 1998 and 1999 in English and No Linguistic content and held by 103 libraries worldwide
Understanding the postwar decline in U.S. saving : a cohort analysis by Jagadeesh Gokhale ( Book )
7 editions published in 1996 in English and No Linguistic content and held by 98 libraries worldwide
The equity of social services provided to children and senior citizens by Laurence J Kotlikoff ( Book )
8 editions published in 1993 in English and held by 91 libraries worldwide
Examines evidence which points to a deterioration in the standard of living of American children relative to adults, particularly the current elderly. With generational accounting, it compares the lifetime net tax burdens (taxes paid less transfers received) of different generations.
Social Security's treatment of postwar Americans : how bad can it get by Jagadeesh Gokhale ( Book )
8 editions published in 1999 in English and No Linguistic content and held by 87 libraries worldwide
Life-cycle saving, limits on contributions to DC pension plans, and lifetime tax benefits by Jagadeesh Gokhale ( Book )
8 editions published in 2001 in English and held by 84 libraries worldwide
This paper addresses three questions related to limits on DC contributions. The first is whether statutory limits on tax-deductible contributions to defined contribution (DC) plans are likely to be binding, focusing on households in various economic situations. The second is how large is the tax benefit from participating in defined contribution plans. The third is how does the defined contribution tax benefit depend on the level of lifetime income. We find that the statutory limits bind those older middle-income house holds who started their pension savings programs late in life, those who plan to retire early, singleearner house holds, those who are not borrowing constrained, and those with rapid rates of real wage growth. Most households with high levels of earnings, regardless of age or situation, are also constrained by the contribution limits.
Medicare from the perspective of generational accounting by Jagadeesh Gokhale ( Book )
6 editions published in 1998 in English and No Linguistic content and held by 83 libraries worldwide
Does it pay to work by Jagadeesh Gokhale ( Book )
7 editions published in 2002 in English and held by 81 libraries worldwide
Do hostile takeovers reduce extramarginal wage payments by Jagadeesh Gokhale ( Book )
8 editions published between 1992 and 1993 in English and held by 78 libraries worldwide
Does participating in a 401(k) raise your lifetime taxes by Jagadeesh Gokhale ( Book )
6 editions published in 2001 in English and No Linguistic content and held by 77 libraries worldwide
Contributing to 401(k)s and similar tax-deferred retirement accounts certainly lowers current taxes. But does it lower your lifetime taxes? If average and marginal tax rates were independent of income and didn't change through time, the answer would be an unambiguous yes. The reduction in current taxes would exceed the increase in future taxes when measured in present value. But tax rates may be higher when retirement account withdrawals occur, either because one moves into higher marginal federal and state tax brackets or because the government raises tax rates. In addition, reducing tax brackets when young, at the price of higher tax brackets when old, may reduce the value of mortgage deductions. Finally, and very importantly, shifting taxable income from youth to old age can substantially increase the share of Social Security benefits subject to federal income taxation. This paper uses ESPlanner, a detailed life-cycle personal financial planning model to study the lifetime tax advantage to stylized young couples of participating in a 401(k) plan.
Social security and medicare policy from the perspective of generational accounting by Alan J Auerbach ( Book )
7 editions published between 1991 and 1992 in English and held by 76 libraries worldwide
Comparing the economic and conventional approaches to financial planning by Jagadeesh Gokhale ( Book )
5 editions published in 1999 in English and No Linguistic content and held by 73 libraries worldwide
The impact on consumption and saving of current and future fiscal policies by Katherine Grace Carman ( Book )
5 editions published in 2003 in English and No Linguistic content and held by 70 libraries worldwide
This paper uses ESPlannerTM -- a life-cycle, financial planning model -- to investigate the potential impact of alternative fiscal policies on current consumption and saving. Studies to date have examined the response of current consumption to tax-induced temporary and permanent income changes. To our knowledge however, no study has directly examined whether consumption smoothing is actually feasible. ESPlanner's saving and life insurance recommendations generate the smoothest possible survival-state contingent lifetime consumption path for the household without putting it into debt. Such consumption smoothing is predicted by economic theory and appears to accord closely, on average, with actual behavior. By running households through ESPlanner based on current policy as well as on alternative fiscal policies, one can easily compare the program's consumption response to hypothetical tax and transfer policy changes and assess the degree to which borrowing constraints may be playing a role in determining the size of those responses. The households used in our analysis are drawn from the Federal Reserve's 1995 Survey of Consumer Finances. This data set provides detailed information on household earnings, assets, housing, demographics, and retirement plans -- all of which is used by ESPlanner in formulating its recommendations. The policies we consider are tax hikes, tax cuts, social security benefit cuts, and the elimination of tax-deferred saving. Our analysis distinguishes between immediate and future policy changes as well as between permanent and temporary ones. Our results are influenced by the fact that a majority 57 percent of our sample of households, many of which are young, is borrowing-constrained and, thus, more responsive to current than future policy changes no matter how long their duration. The results are also very sensitive to the particular policy being enacted. Income tax changes, for example, have little effect on the consu.
Generational accounts : a meaningful alternative to deficit accounting by Alan J Auerbach ( Book )
7 editions published between 1990 and 1991 in English and held by 67 libraries worldwide
Measuring social security's financial problems by Jagadeesh Gokhale ( Book )
5 editions published in 2005 in English and held by 64 libraries worldwide
"The U.S. Social Security system has helped keep many retirees out of poverty. However, according to the Social Security and Medicare Trustees, Social Security faces a future financial shortfall of $10.4 trillion in present value. This enormous imbalance has received little attention in public debates about Social Security. Instead, the media and policymakers continue to focus on the program's trust fund and several other ad-hoc measures that create a misleading impression of the size of Social Security's financial problem. Although the Social Security Trust Fund is not projected to be exhausted until 2042, Social Security's $10.4 trillion present value imbalance is accruing interest and will grow by $600 billion during 2004 alone. The current cash-flow federal budget, however, is biased against reforms that would improve Social Security's finances. As shown herein, a new federal accounting system would remove this bias"--National Bureau of Economic Research web site.
Generational accounting : a new approach for understanding the effects of fiscal policy on saving by Alan J Auerbach ( Book )
2 editions published in 1991 in English and held by 25 libraries worldwide
The burden of German unification : a generational accounting approach by Jagadeesh Gokhale ( Book )
2 editions published between 1994 and 1995 in German and English and held by 24 libraries worldwide
Population aging and fiscal policy in Europe and the United States by Jagadeesh Gokhale ( Book )
4 editions published between 1999 and 2000 in English and held by 23 libraries worldwide
401(k) plans--Taxation Budget Budget deficits--Econometric models Budget deficits--Mathematical models Children--Services for Children--Services for--Finance Consolidation and merger of corporations Consolidation and merger of corporations--Economic aspects Consumption (Economics) Defined contribution pension plans--Law and legislation Economic history Economic stabilization Entitlement spending Expenditures, Public Finance, Personal Financial crises Fiscal policy Fiscal policy--Econometric models Generational accounting Generational accounting--Econometric models Germany Government spending policy Income distribution Income distribution--Econometric models Income tax Inheritance and succession--Econometric models Intergenerational relations--Economic aspects--Econometric models Labor costs Labor supply--Effect of taxation on--Econometric models Massachusetts Medicaid--Costs Medicare Medicare--Econometric models Older people--Family relationships Older people--Services for Retirement income--Planning Retirement--Planning Saving and investment Social security Social security--Accounting Social security--Econometric models Social security--Finance Software Statistics Taxation--Econometric models Taxation of articles of consumption--Mathematical models United States United States.--Social Security Administration Wages Wealth--Econometric models