کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
970371 | 1479496 | 2009 | 18 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Ricardian equivalence under imperfect information
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
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چکیده انگلیسی
In the US, aggregate private consumption changes are excessively sensitive not only to current and lagged changes in income, but also to current and lagged changes in government expenditures. I give a new theoretical interpretation to this observation. I show that this excess sensitivity arises when consumers take into account the link between taxes and government expenditures (i.e. when they are Ricardian), but lack exact information on the aggregate economy. While the model provides a simultaneous explanation for both types of excess sensitivity, the strong restrictions that it imposes on the data are not supported by the results of econometric estimation.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Public Economics - Volume 90, Issues 10–11, November 2006, Pages 2009–2026
Journal: Journal of Public Economics - Volume 90, Issues 10–11, November 2006, Pages 2009–2026
نویسندگان
Lorenzo Pozzi,