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dc.contributor.authorSchlicht, Ekkeharten
dc.date.accessioned2012-02-14-
dc.date.accessioned2012-02-17T15:10:49Z-
dc.date.available2012-02-17T15:10:49Z-
dc.date.issued2012-
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
dc.language.isoengen
dc.publisher|aKiel Institute for the World Economy (IfW) |cKielen
dc.relation.ispartofseries|aEconomics Discussion Papers |x2012-13en
dc.subject.jelE2en
dc.subject.jelE12en
dc.subject.jelE6en
dc.subject.jelH6en
dc.subject.ddc330en
dc.subject.keywordBarro-Ricardo equivalenceen
dc.subject.keywordRicardian equivalenceen
dc.subject.keywordfiscal policyen
dc.subject.keyworddebten
dc.subject.keywordtaxationen
dc.subject.keywordrational expectationsen
dc.subject.stwRicardianisches Äquivalenztheoremen
dc.subject.stwÖffentliche Anleiheen
dc.subject.stwZinsen
dc.subject.stwRationale Erwartungen
dc.subject.stwSteuerpolitiken
dc.subject.stwSteuerwirkungen
dc.subject.stwErwartungstheorieen
dc.subject.stwTheorieen
dc.titleA case where Barro expectations are not rational-
dc.typeWorking Paperen
dc.identifier.ppn685294404en
dc.rights.licensehttp://creativecommons.org/licenses/by-nc/2.0/de/deed.enen
dc.identifier.repecRePEc:zbw:ifwedp:201213en

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