Ricardian equivalence and money dominated in return: are they mutually consistent generally?

Neil Wallace ()

No 99, Staff Report from Federal Reserve Bank of Minneapolis

Abstract: Different conclusions about the effects of open market operations are reached even among economists using full employment and rational expectations models. I show that these differences can be attributed to different assumptions regarding the concept of the deficit that is held fixed for an open market operation, the diversity among agents, and the features generating money demand. With regard to those features, I argue that plausible ways of explaining the holding of low-return money preclude the kind of perfect credit markets needed to obtain Ricardian equivalence.

Date: 1985
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.minneapolisfed.org/research/sr/sr99.pdf Full Text (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fip:fedmsr:99

Access Statistics for this paper

More papers in Staff Report from Federal Reserve Bank of Minneapolis Contact information at EDIRC.
Bibliographic data for series maintained by Kate Hansel ().