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Ricardian Equivalence, the Structural Deficit, and the Cyclical Deficit: A Note
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Ricardian Equivalence, the Structural Deficit, and the Cyclical Deficit: A Note

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This empirical study investigates the Ricardian Equivalence Theorem from the perspective of aggregate personal savings. If the structural deficit is viewed as the expected budget deficit, the results in this study provide empirical support for Ricardian Equivalence behavior. On the other hand, cyclical deficits do not provide support for Ricardian Equivalence. However, in view of the very modest coefficients (closer to zero than to unity) on the structural deficit variable, it appears that Ricardian Equivalent behavior is incomplete and that savings only partially offset the effects of anticipated deficits on the economy.

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  • Cebula , Richard J. & Hung, Chao-Shun Hung & Manage, Neela D., 1996. "Ricardian Equivalence, the Structural Deficit, and the Cyclical Deficit: A Note," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 49(1), pages 19-27.
    • Handle: RePEc:ris:ecoint:0380
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