Banzhaf, H. Spencer; Oates, Wallace E. - 2012
The Ricardian Equivalence Theorem establishes a set of conditions under which the form of finance of a public program … (tax or debt finance) has no effects on any substantive outcomes. Following Barro (1974), the theorem has typically been … of debt finance is offset by increased private saving. However, Ricardian equivalence can also be established in a …