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Please use this identifier to cite or link to this item: http://hdl.handle.net/10400.5/2347

Title: Euler testing Ricardo and Barro in the EU
Authors: Afonso, António
Keywords: debt neutrality
private consumption
EU
panel data
Issue Date: 2008
Publisher: ISEG – Departamento de Economia
Citation: Afonso, António. 2008. "Euler testing Ricardo and Barro in the EU". Instituto Superior de Economia e Gestão - DE Working papers nº 23-2008/DE/UECE
Series/Report no.: DE Working papers;nº 23-2008/DE/UECE
Abstract: According to Keynesian economics wisdom, government debt has an effect on the economy since consumers see government debt as net wealth. However, according to the debt neutrality hypothesis of Ricardo (1817), popularised by Barro (1974), such effects 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 and that higher government indebtedness could actually deter private consumption.
URI: http://hdl.handle.net/10400.5/2347
ISSN: 0874-4548
Publisher version: https://aquila1.iseg.utl.pt/aquila/getFile.do?method=getFile&fileId=26524
Appears in Collections:UECE - Documentos de Trabalho / UECE - Working Papers
DE - Documentos de trabalho / Working Papers

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