Ricardian behavior may increase the variance of consumption A change in national income will change future tax liabilities endogenously if consumers are Ricardian, consumption will change for this reason. This paper studies the effects of these changes on the stability of an economy with sticky prices. The analysis indicates that Ricardian tax discounting would tend to reduce macroeconomic stability.
Studies in Economics and Finance – Emerald Publishing
Published: Jan 1, 1991
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