About: Ricardian Equivalence in Countries in Transition: Theory and Evidence from the Czech Republic

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Description	There were many theoretical and/or empirical studies on debt neutrality published through the years. Nevertheless, most of them were aimed at developed countries, with the rest dedicated to developing countries. For various reasons there was no attentionpaid to the Central and East European post-socialist countries. We argue that if people behave as Ricardian agents, the consequences for a policy-making are not as significant in developed countries as in countries in transition. A review of the theor etical assumptions of Ricardian hypothesis reveals that they are not likely to be fulfilled in practice even in countries in transition. A brief survey of the literature shows that available empirical evidence is inconclusive. Therefore, a simple empirical application of Ricardian equivalence for the Czech Republic is carried out. The test is based on reduced-form consumption function and the quarterly data are used. The overall results are ambiguous and show the need of deeper econometric analysis There were many theoretical and/or empirical studies on debt neutrality published through the years. Nevertheless, most of them were aimed at developed countries, with the rest dedicated to developing countries. For various reasons there was no attentionpaid to the Central and East European post-socialist countries. We argue that if people behave as Ricardian agents, the consequences for a policy-making are not as significant in developed countries as in countries in transition. A review of the theor etical assumptions of Ricardian hypothesis reveals that they are not likely to be fulfilled in practice even in countries in transition. A brief survey of the literature shows that available empirical evidence is inconclusive. Therefore, a simple empirical application of Ricardian equivalence for the Czech Republic is carried out. The test is based on reduced-form consumption function and the quarterly data are used. The overall results are ambiguous and show the need of deeper econometric analysis (en)
Title	Ricardian Equivalence in Countries in Transition: Theory and Evidence from the Czech Republic Ricardian Equivalence in Countries in Transition: Theory and Evidence from the Czech Republic (en)
skos:prefLabel	Ricardian Equivalence in Countries in Transition: Theory and Evidence from the Czech Republic Ricardian Equivalence in Countries in Transition: Theory and Evidence from the Czech Republic (en)
skos:notation	RIV/61989100:27510/03:00007372!RIV/2004/MSM/275104/N
http://linked.open.../vavai/riv/strany	1-10
http://linked.open...avai/riv/aktivita	Z
http://linked.open...avai/riv/aktivity	Z(MSM 275100015)
http://linked.open...vai/riv/dodaniDat	2004
http://linked.open...aciTvurceVysledku	Macháček, Martin Wroblowský, Tomáš
http://linked.open.../riv/druhVysledku	D - Článek ve sborníku
http://linked.open...iv/duvernostUdaju	S - Úplné a pravdivé údaje nepodléhající ochraně podle zvláštních právních předpisů
http://linked.open...titaPredkladatele	Vysoká škola báňská - Technická univerzita Ostrava / Ekonomická fakulta
http://linked.open...dnocenehoVysledku	625637
http://linked.open...ai/riv/idVysledku	RIV/61989100:27510/03:00007372
http://linked.open...riv/jazykVysledku	eng - angličtina
http://linked.open.../riv/klicovaSlova	Ricardian equivalence, consumption function, government debt (en)
http://linked.open.../riv/klicoveSlovo	government debt consumption function Ricardian equivalence
http://linked.open...ontrolniKodProRIV	[8BA1CB637B0A]
http://linked.open...v/mistoKonaniAkce	Praha
http://linked.open...i/riv/mistoVydani	Praha
http://linked.open...i/riv/nazevZdroje	Public Finance and Financial Markets
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http://linked.open...ichTvurcuVysledku	2 (xsd:int)
http://linked.open...cetTvurcuVysledku	2 (xsd:int)
http://linked.open...ocetUcastnikuAkce	0 (xsd:int)
http://linked.open...nichUcastnikuAkce	0 (xsd:int)
http://linked.open...UplatneniVysledku	2003
http://linked.open...iv/tvurceVysledku	Wroblowský, Tomáš Macháček, Martin
http://linked.open...vavai/riv/typAkce	WRD - Světová
http://linked.open.../riv/zahajeniAkce	2003-08-25 (xsd:date)
http://linked.open...n/vavai/riv/zamer	http://linked.opendata.cz/resource/domain/vavai/zamer/MSM%20275100015
number of pages	10 (xsd:int)
http://purl.org/ne...btex#hasPublisher	International Institute of Public Finance
http://localhost/t...ganizacniJednotka	27510

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