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Persistent link: https://www.econbiz.de/10010256366
We re-evaluate two forms of fiscal illusion in local public finance: debt illusion and renter illusion. The Ricardian Equivalence Theorem for local governments suggests the form of finance of a public program (tax or debt finance) has no effects on substantive outcomes. For the local case, this...
Persistent link: https://www.econbiz.de/10013106324
We re-evaluate two forms of fiscal illusion in local public finance: debt illusion and renter illusion. The Ricardian Equivalence Theorem for local governments suggests the form of finance of a public program (tax or debt finance) has no effects on substantive outcomes. For the local case, this...
Persistent link: https://www.econbiz.de/10013107014
Persistent link: https://www.econbiz.de/10009539833
We re-evaluate two forms of fiscal illusion in local public finance: debt illusion and renter illusion. The Ricardian Equivalence Theorem for local governments suggests the form of finance of a public program (tax or debt finance) has no effects on substantive outcomes. For the local case, this...
Persistent link: https://www.econbiz.de/10012460619
The Ricardian Equivalence Theorem establishes a set of conditions under which the form of finance of a public program (tax or debt finance) has no effects on any substantive outcomes. Following Barro (1974), the theorem has typically been formulated in the context of a national government in an...
Persistent link: https://www.econbiz.de/10014215349