Pemberton, James - In: Scottish Journal of Political Economy 51 (2004) 1, pp. 95-104
<link rid="b3">Barsky, Mankiw and Zeldes (1986)</link> have argued that uncertainty about future income can generate strong 'Keynesian' responses to tax changes by consumers who have far-sighted 'Ricardian' preferences. The paper argues that this conclusion relies on an inappropriate treatment of future tax policies....