Equivalenza Ricardiana in economia aperta:un’analisi dinamica su dati panel

Patrizia Margani () and Roberto Ricciuti ()

No 59, ISAE Working Papers from ISAE - Institute for Studies and Economic Analyses - (Rome, ITALY)

Abstract: We analyse Ricardian Equivalence in open economy using a panel of 18 developed countries for 1973-1998. We use a dynamic panel estimated via instrumental variables and we discuss why this specification should be preferred to a static model estimated via ordinary least squares. We find a significant effect of the budget balance on the current account, mostly in its current value, suggesting that Ricardian Equivalence does not hold.

Keywords: Ricardian Equivalence; fiscal policy; dynamic panel models (search for similar items in EconPapers)
JEL-codes: F32 F41 E62 H62 (search for similar items in EconPapers)
Date: 2005-10

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Related works:
Journal Article: Equivalenza ricardiana in economia aperta: un'analisi dinamica su dati panel (2006)
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Persistent link: http://EconPapers.repec.org/RePEc:isa:wpaper:59

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