Policy Center Lecture: Alan J. Auerbach
Titel: Long-Term Fiscal Sustainability in Advanced Economies
Speaker: Alan J. Auerbach (Robert D. Burch Professor of Economics and Law, Director of the Burch Center for Tax Policy and Public Finance )
The Global Financial Crisis has largely subsided, but the effects of the crisis live on. Many leading economies are struggling to regain adequate levels of economic growth, and large government budget deficits have left advanced economies with much larger levels of national debt than they had just a few years earlier. Thus, advanced economies confront remaining economic challenges while facing greater fiscal pressure. However, this pressure comes not only from elevated debt-GDP ratios, but also from a largely unrelated fiscal challenge over the longer term, due to demographic change and the rising cost of age-related social insurance. While focusing on managing the short-term debt burden may help avoid crises like the one being played out in Greece, attention and policy actions must eventually turn to the longer-term fiscal problem. This lecture will provide an evaluation of the long-term fiscal sustainability of advanced economies.
Alan J. Auerbach is the Robert D. Burch Professor of Economics and Law, Director of the Burch Center for Tax Policy and Public Finance, and former Chair of the Economics Department at the University of California, Berkeley. He is also a Research Associate of the National Bureau of Economic Research and previously taught at Harvard and the University of Pennsylvania, where he also served as Economics Department Chair. Professor Auerbach was Deputy Chief of Staff of the U.S. Joint Committee on Taxation in 1992 and has been a consultant to several government agencies and institutions in the United States and abroad. He served as an Executive Committee Member and Vice President of the American Economic Association and as Editor of Economic Policy. Professor Auerbach is a Fellow of the American Academy of Arts and Sciences, the Econometric Society, and the National Academy of Social Insurance, and currently President of the National Tax Association.