debt neutrality, finite horizons, and private savings behavior
abstract: the paper has two purposes: first, to study the quantitative importance of deviations from debt neutrality in a multiperiod finite-horizon economy. second, to provide new empirical evidence on the validity of the debt neutrality proposition based on a near-century of time series evidence f...| Link(s) zu Dokument(en): | IHS Publikation |
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| Format: | IHS Series NonPeerReviewed |
| Sprache: | Englisch |
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institut fuer hoehere studien
1990
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| Zusammenfassung: | abstract: the paper has two purposes: first, to study the quantitative importance of deviations from debt neutrality in a multiperiod finite-horizon economy. second, to provide new empirical evidence on the validity of the debt neutrality proposition based on a near-century of time series evidence for the u.s. and the u.k. the results suggest that the behavior of private savings rates outside war-periods is not consistent with debt neutrality, and that the assumption of finite horizons is unlikely to account for this finding.; |
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