AN ANALYSIS OF STABILITY IN A KEYNESIAN ECONOMY WITH RICARDIAN CONSUMERS

Emerald - Tập 14 Số 1 - Trang 49-69 - 1991
BenjaminRusso1
1University of North Carolina at Charlotte

Tóm tắt

Ricardian behavior may increase the variance of consumption: A change in national income will change future tax liabilities endogenously; if consumers are Ricardian, consumption will change for this reason. This paper studies the effects of these changes on the stability of an economy with sticky prices. The analysis indicates that Ricardian tax discounting would tend to reduce macroeconomic stability.

Từ khóa


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Emerald

Tập 14 Số 1

49-69

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