BONIS, V. DE; PALADINI, R. - In: Banca Nazionale del Lavoro Quarterly Review 51 (1998) 206, pp. 247-272
According to the ‘Ricardian’ equivalence hypothesis, consumption is dependent on permanent disposable income and current deficits are equivalent to future tax payments. This hypothesis is tested on 14 European countries in the 1990s. The relationships between private sector savings...