Utilize este identificador para referenciar este registo: http://hdl.handle.net/10400.5/2749
Título: Government indebtedness and european consumers behaviour
Autor: Afonso, António
Palavras-chave: Deficit finance
Ricardian equivalence
Private consumption
European Union
panel data
Data: 2001
Editora: ISEG – Departamento de Economia
Citação: Afonso, António. 2001. "Government indebtedness and european consumers behaviour". Instituto Superior de Economia e Gestão - DE Working papers nº 12-2001/DE/CISEP
Relatório da Série N.º: DE Working papers;nº 12-2001/DE/CISEP
Resumo: According to conventional macroeconomics, public debt has a significant effect on the economy since consumers see public debt as net wealth, however, according to the Ricardian Equivalence hypothesis, that effect would be absent. This paper's results, obtained from Euler equation estimations, using a panel data approach, indicate that it would be wise to reject the debt neutrality hypothesis for the EU-15. However, estimations carried out after dividing the countries into two groups, tentatively allow us to conclude that private consumption in "less indebted" countries seems to be more responsive to wealth increases than in the "more indebted" countries.
URI: http://hdl.handle.net/10400.5/2749
ISSN: 0874-4548
Versão do Editor: https://aquila1.iseg.utl.pt/aquila/getFile.do?method=getFile&fileId=23822
Aparece nas colecções:DE - Documentos de trabalho / Working Papers
CISEP - Documentos de Trabalho / CISEP - Working Papers

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