Reflections on Ricardian Equivalence

Robert Barro

No 5502, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: The Ricardian equivalence proposition for public debt in my 1974 JPE paper is related to the discussions in Ricardo's Funding System, Smith's Wealth of Nations, and a number of treatments in macroeconomics from the 1950s to the 1970s. Useful extensions of the basic invariance proposition involve tax smoothing (in the context of distorting taxation) and the determinants of the maturity and other characteristics of the debt structure (in an environment of uncertainty).

JEL-codes: E6 H6 (search for similar items in EconPapers)
Date: 1996-03
Note: EFG PE
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (22)

Published as Maloney, J. (ed.) Debt and Deficits: An Historical Perspective. Edward Elgar, 1998.

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