On debt neutrality in life-cycle models

Miguel Angel Lopez-Garcia

doi:https://doi.org/10.1016/0165-1765(90)90007-N

On debt neutrality in life-cycle models

Miguel Angel Lopez-Garcia

Department of Applied Economics

Research output: Contribution to journal › Article › Research › peer-review

Abstract

A parallelism is established between pure life-cycle models and those in which altruism is one-sided in the discussion of the public debt neutrality. It is argued that when indiduals behave as pure life cyclers, the coercive transfers necessary to offset the effects of the debt have the same nature, and take place under the same conditions, as the voluntary intrafamily bequests and gifts which constitute the usual basis for the 'Ricardian equivalence theorem'. © 1990.

Original language	English
Pages (from-to)	233-238
Journal	Economics Letters
Volume	33
DOIs	https://doi.org/10.1016/0165-1765(90)90007-N
Publication status	Published - 1 Jan 1990

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abstract = "A parallelism is established between pure life-cycle models and those in which altruism is one-sided in the discussion of the public debt neutrality. It is argued that when indiduals behave as pure life cyclers, the coercive transfers necessary to offset the effects of the debt have the same nature, and take place under the same conditions, as the voluntary intrafamily bequests and gifts which constitute the usual basis for the 'Ricardian equivalence theorem'. {\textcopyright} 1990.",

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AB - A parallelism is established between pure life-cycle models and those in which altruism is one-sided in the discussion of the public debt neutrality. It is argued that when indiduals behave as pure life cyclers, the coercive transfers necessary to offset the effects of the debt have the same nature, and take place under the same conditions, as the voluntary intrafamily bequests and gifts which constitute the usual basis for the 'Ricardian equivalence theorem'. © 1990.

U2 - https://doi.org/10.1016/0165-1765(90)90007-N

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JO - Economics Letters

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