Government Debt, Life-Cycle Income and Liquidity Constrains : Beyond Approximate Ricardian Equivalence /
Evans (1991) has demonstrated that Blanchard's (1985) finite-horizon model obeys approximate Ricardian equivalence. We show that this result is determined largely by an unrealistic assumption that labor income grows monotonically over a consumer's entire lifetime. Introducing more realisti...
| Autor principal: | |
|---|---|
| Altres autors: | , |
| Format: | Revista |
| Idioma: | English |
| Publicat: |
Washington, D.C. :
International Monetary Fund,
1996.
|
| Col·lecció: | IMF Working Papers; Working Paper ;
No. 1996/140 |
| Accés en línia: | Full text available on IMF |