EconStor >
Institut für Weltwirtschaft (IfW), Kiel >
Economics: The Open-Access, Open-Assessment E-Journal - Discussion Papers >

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10419/55513
  

Full metadata record

DC FieldValueLanguage
dc.contributor.authorSchlicht, Ekkeharten_US
dc.date.accessioned2012-02-14en_US
dc.date.accessioned2012-02-17T15:10:49Z-
dc.date.available2012-02-17T15:10:49Z-
dc.date.issued2012en_US
dc.identifier.urihttp://hdl.handle.net/10419/55513-
dc.description.abstractThe paper generalizes Feldstein's criticism (Perceived Wealth in Bonds and Social Security, 1976) of Barro's analysis (Are Government Bonds Real Net Wealth?, 1974) for the case that the interest rate exceeds the growth rate. This is done by considering an economy in steady state where all agents hold Barro expectations: they believe that government debt must necessarily be repaid and therefore leave the present value of their income streams unchanged. In this scenario, a change in the mode of taxation affects the present value of disposable income in the private sector. This violates their Barro expectations.en_US
dc.language.isoengen_US
dc.publisherKiel Institute for the World Economy (IfW) Kielen_US
dc.relation.ispartofseriesEconomics Discussion Papers 2012-13en_US
dc.subject.jelE2en_US
dc.subject.jelE12en_US
dc.subject.jelE6en_US
dc.subject.jelH6en_US
dc.subject.ddc330en_US
dc.subject.keywordBarro-Ricardo equivalenceen_US
dc.subject.keywordRicardian equivalenceen_US
dc.subject.keywordfiscal policyen_US
dc.subject.keyworddebten_US
dc.subject.keywordtaxationen_US
dc.subject.keywordrational expectationsen_US
dc.subject.stwRicardianisches Äquivalenztheoremen_US
dc.subject.stwÖffentliche Anleiheen_US
dc.subject.stwZinsen_US
dc.subject.stwRationale Erwartungen_US
dc.subject.stwSteuerpolitiken_US
dc.subject.stwSteuerwirkungen_US
dc.subject.stwErwartungstheorieen_US
dc.subject.stwTheorieen_US
dc.titleA case where Barro expectations are not rationalen_US
dc.typeWorking Paperen_US
dc.identifier.ppn685294404en_US
dc.rights.licensehttp://creativecommons.org/licenses/by-nc/2.0/de/deed.enen_US
dc.identifier.repecRePEc:zbw:ifwedp:201213-
Appears in Collections:Economics: The Open-Access, Open-Assessment E-Journal - Discussion Papers

Files in This Item:
File Description SizeFormat
685294404.pdf407.62 kBAdobe PDF
No. of Downloads: Counter Stats
Show simple item record
Download bibliographical data as: BibTeX

Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.