Barro, Robert J.; Fernández-Villaverde, Jesús; … - 2017
total assets, the shares of each agent in equity ownership and wealth, and the rates of return on safe and risky assets. In … but rising, and the ratio of safe to total assets is high but falling. In the baseline model, Ricardian Equivalence holds … in that added government bonds have no effect on rates of return and the net quantity of safe assets. Surprisingly, the …