Ricardian Equivalence Revisited: Evidence from OECD countries

Using a theoretical model based on dynamic optimizing agents, we test empirically the Ricardian Equivalence Proposition (REP) for 26 OECD countries. The empirical specification allows us to obtain estimates of the structural parameters of the theoretical model and to test directly the hypothesis implied by the REP. We find that the REP cannot be rejected for 10 out of 26 countries, where 9 of these 10 countries are European.

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Year of publication:	2004
Authors:	Reitschuler, Gerhard ; Cuaresma, Jesús Crespo
Published in:	Economics Bulletin. - AccessEcon, ISSN 1545-2921. - Vol. 5.2004, 16, p. 1-10
Publisher:	AccessEcon

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Extent:	application/pdf
Type of publication:	Article
Language:	English
Classification:	E2 - Consumption, Saving, Production, Employment, and Investment ; E6 - Macroeconomic Policy Formation, Macroeconomic Aspects of Public Finance, Macroeconomic Policy, and General Outlook
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005094739