A Study on the Generational Equity in the Aged Society using the Generational Accounts

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This study discusses the issues on the generational imbalance under the aged society using the method of the generational accounts.The following points are found;1. The generational accounts clarify that we can not solve the generational imbalance only reducing the fiscal expenditure on the public capital formation.2. The OLG model clarified that we can maintain the welfare of future generation by increasing tax burden under the society with the public capital less than the optimal level.3. The generational accounts clarify that the public pension financed by tax improve the generational imbalance a litlle, and that the new health insurance for high-aged, however, does not improve the generational imbalance.4. The index of social welfare expenditures between the younger and aged generation illustrates that Japan expend much more benefit on the aged generation than Sweden and Finland. This result comes from the policy that supports for the household with small children in the Nordic countries.