Fiscal and Intergenerational Effects of the Coronavirus Pandemic

This paper analyzes the future development of public finances and the intertemporal and intergenerational effects of the coronavirus pandemic based on the method of generational accounting. The results show that the sustainability gap of public budgets will increase sharply and cause an unequal burden on the generations. An eradication of the deficits caused by the crisis, currently under discussion in political circles, requires a careful consideration of the measures for distributing the burdens among the different generations.