Mr. Ricardo's Great Adventure : Estimating Fiscal Multipliers in a Truly Intertemporal Model

Estimating Fiscal Multipliers in a Truly Intertemporal Model

Mr. Ricardo's Great Adventure : Estimating Fiscal Multipliers in a Truly Intertemporal Model
We estimate tax multipliers in a "Blanchard-Yaari" consumption model where Ricardian equivalence is broken because the private sector discounts the future at a faster rate than the real rate of interest. The model fits U.S. data since 1955 extremely well-entailing a discount wedge of around 20 percent a year and fiscal multipliers of... READ MORE...

Publication date: July 2006
ISBN 9781451864281
$15.00

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