Intergenerational Governance and Leadership around the World

Abstract

Globalization led to unprecedented intergenerational equity imbalances regarding climate change, over-indebtedness in the aftermath of the 2008/09 World Financial Crisis as well as pension reform needs of an aging Western World population. In the eye of current intergenerational concerns, the study of global intergenerational balances leverages into a necessary and blatant demand but is up-to-date limited. Intertemporal transfers between generations have not been captured on a global scale. Pursuing to fill laissez-faire gaps on intergenerational concerns, outlining public or private sector endeavors in coordinating intergenerational exchange would provide concrete means how to balance intertemporal benefits and burdens between overlapping generations in a fair way. In the contemporary extensive writing on inequality, unraveling intergenerational equity opens ways to steer intertemporal social mobility. Therefore, the creation of a contemporary macroeconomic intergenerational transfer model with attention to public and private sector contributions as well as benefit and burden sharing is proposed and preliminary results presented.

Keywords: Climate Change, Intergenerational Governance, Intergenerational Transfer, Intertemporal Benefits and Burden Sharing, Macroeconomics, Overindebtedness, World