Mr. Ricardo’s Great Adventure : Estimating Fiscal Multipliers in a Truly Intertemporal Model /
We estimate tax multipliers in a "Blanchard-Yaari" consumption model where Ricardian equivalence is broken because the private sector discounts the future at a faster rate than the real rate of interest. The model fits U.S. data since 1955 extremely well-entailing a discount wedge of aroun...
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| Format: | Book |
| Language: | English |
| Published: |
Washington, D.C. :
International Monetary Fund,
2006
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| Edition: | 1st ed |
| Series: | IMF Working Papers; Working Paper ;
No. 2006/168 |
| Subjects: |