کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
5097986 | 1478663 | 2017 | 45 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Learning Ricardian Equivalence
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موضوعات مرتبط
مهندسی و علوم پایه
ریاضیات
کنترل و بهینه سازی
پیش نمایش صفحه اول مقاله
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چکیده انگلیسی
This paper tests whether subjects learn to comply with the Ricardian Equivalence proposition in a life cycle consumption laboratory experiment. Our results suggest that Ricardian Equivalence does not hold on average: tax changes have a significant and strong impact on consumption choice. Using individual consumption time series, the behaviour of 56% of our subjects can be classified as inconsistent with the Ricardian Equivalence proposition. Classifying subjects according to rules of thumb that best describe their behaviour, we find that subjects switch less to rules that theoretically violate Ricardian Equivalence in later rounds compared to earlier rounds. This implies that some subjects learn to comply with Ricardian Equivalence by changing their consumption strategy. However, the aggregate effect of taxation on consumption persists, even after eight rounds of repetition.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Economic Dynamics and Control - Volume 82, September 2017, Pages 273-288
Journal: Journal of Economic Dynamics and Control - Volume 82, September 2017, Pages 273-288
نویسندگان
Thomas Meissner, Davud Rostam-Afschar,