Heathcote, Jonathan (contributor) - 2003 - [Elektronische Ressource]
are incomplete.
Keywords: Ricardian equivalence; Fiscal policy; Heterogeneous agents; Borrow-
ing constraints
JEL … theoretical models in which one or more of the conditions for Ricardian equivalence
are not satisfied.
First, when taxes are not … Davis 1989, Feldstein 1988, and Daniel
1993). Third, Ricardian equivalence will fail if a tax cut reduces the tax burden on …