Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/55513
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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.publisher|aKiel Institute for the World Economy (IfW) |cKielen_US
dc.relation.ispartofseries|aEconomics Discussion Papers |x2012-13en_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-

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