Anything Goes Theorem, Incomplete Markets and Ricardian Equivalence Hypothesis
نویسندگان
چکیده
منابع مشابه
Ricardian Equivalence with Incomplete Household Risk Sharing
Several important empirical studies (for example, Altonji, Hayashi, and Kotlikoff, 1992, 1996, 1997) have found that households are not altruistically linked in a way consistent with the standard Ricardian model, as put forward by Barro (1974). We built a two-sided altruistic-linkage model in which private transfers are made in the presence of two types of shocks: an observable shock that is pu...
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Representing OT hierarchies in terms of weighted sums of violations requires in the general case exponential growth of weights; and any such weight system will only work for finite fragments of grammars in which the quantity of violations incurred by optima does not grow without bound (typically, those fragments in which input size is bounded). This conclusion is based on a worst-case analysis,...
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This paper investigates the effectiveness of matching grants to correct for interjurisdictional spillovers in the light of Bernheim general neutrality result. Indeed this result suggests that the usual argument that matching grants are needed to internalize the externality arising from the existence of interjuridictional spillovers is an artifact of the assumption that jurisdictions neglect the...
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Mitochondria have their own genetic system – a vestigial genome originating from an endosymbiotic a-proteobacterial ancestor. The genetic function of mitochondrial DNA (mtDNA) is well-conserved, being involved in a maximum of five mitochondrial processes: invariantly in respiration and/or oxidative phosphorylation and translation, and also in transcription, RNA maturation and protein import. Re...
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Robert Barro (1974) showed government debt has no real effects when generations are linked by altruistically motivated intergenerational transfers, a result now known widely as the Ricardian Equivalence Theorem. An important condition for debt neutrality is believed to be the absence of strategic interactions between members of different generations. I use a simple two-period, parent and child ...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2017
ISSN: 1556-5068
DOI: 10.2139/ssrn.3073568