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| Author: | Lopez, H. |
| Title: | How effective is fiscal policy in raising national saving? |
| Journal: | Review of Economics and Statistics
2000 : MAY, VOL. 82:2, p. 226-238 |
| Index terms: | ECONOMICS SAVINGS STATISTICS |
| Language: | eng |
| Abstract: | While fiscal adjustment is commonly viewed as the cornerstone of macroeconomic stabilization, the effectiveness of alternative fiscal instruments in raising national saving is still poorly understood. This paper enters the debate by estimating a private consumption function that allows for two types of agents -- finite horizons and liquidity constraints -- and nests three different consumption hypotheses. Using a large-panel data set that includes both industrial and developing countries, the authors reject full Ricardian equivalence. |
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