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The (In)Validity of the Ricardian Equivalence Theorem—Findings from a Representative German Population Survey
In this paper, we utilise data from a German population survey to test the validity of the Ricardian equivalence theorem (RET). In 2013, 2,000 representatively chosen people were asked whether they have altered their consumption and saving behaviour in response to the significant increase in public...
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| 發表在: | MAGKS - Joint Discussion Paper Series in Economics (Band 11-2016) |
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| Autoren: | , |
| 格式: | Artikel |
| 語言: | 英语 |
| 出版: |
Philipps-Universität Marburg
2016
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| 主題: | |
| 在線閱讀: | PDF-Volltext |
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| 總結: | In this paper, we utilise data from a German population survey to test the validity of the Ricardian equivalence theorem (RET). In 2013, 2,000 representatively chosen people were asked whether they have altered their consumption and saving behaviour in response to the significant increase in public debt that occurred between 2008 and 2012. Our findings suggest that, in general, RET does not hold. Only 7% of our respondents state that they consume a smaller proportion of their income and save a larger proportion in response to public debt accumulation. Moreover, using multinominal logit regressions, we find that individuals’ consumption responses are significantly related to their economic situation, time preferences, education, and age. |
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| 實物描述: | 23 Seiten |
| ISSN: | 1867-3678 |
| DOI: | 10.17192/es2024.0491 |