Private Consumption, Inflation and the "Debt Neutrality Hypothesis" [E-Book]: The Case of Eight OECD Countries / Giuseppe Nicoletti
This paper examines the empirical basis for the debt-neutrality hypothesis in an international cross-section of eight major OECD countries over the period 1961-85. The analysis uses a dynamic demand system for durable and non-durable goods derived from individual optimizing behaviour. The model nest...
Saved in:
Full text |
|
Personal Name(s): | Nicoletti, Giuseppe. |
Imprint: |
Paris :
OECD Publishing,
1988
|
Physical Description: |
99 p. ; 21 x 29.7cm. |
Note: |
englisch |
DOI: |
10.1787/012554655282 |
Series Title: |
/* Depending on the record driver, $field may either be an array with
"name" and "number" keys or a flat string containing only the series
name. We should account for both cases to maximize compatibility. */?>
OECD Economics Department Working Papers ;
50 |
Keywords: |
Economics |
LEADER | 02002caa a22002778i 4500 | ||
---|---|---|---|
001 | ZB03374 | ||
003 | OECD iLibrary | ||
008 | 121101s1988 fr o i|0| 0 eng d | ||
024 | 7 | |a 10.1787/012554655282 |2 doi | |
035 | |a (Sirsi) a490261 | ||
041 | |a eng | ||
100 | 1 | |a Nicoletti, Giuseppe. | |
245 | 1 | 0 | |a Private Consumption, Inflation and the "Debt Neutrality Hypothesis" |h [E-Book]: |b The Case of Eight OECD Countries / |c Giuseppe Nicoletti |
264 | |a Paris : |b OECD Publishing, |c 1988 |e (OECD iLibrary) | ||
300 | |a 99 p. ; |c 21 x 29.7cm. | ||
336 | |a Text |b txt |2 rdacontent | ||
337 | |a Computermedien |b c |2 rdamedia | ||
338 | |a Online-Ressource |b cr |2 rdacarrier | ||
490 | |a OECD Economics Department Working Papers ; |v 50 | ||
500 | |a englisch | ||
520 | 3 | |a This paper examines the empirical basis for the debt-neutrality hypothesis in an international cross-section of eight major OECD countries over the period 1961-85. The analysis uses a dynamic demand system for durable and non-durable goods derived from individual optimizing behaviour. The model nests three specifications corresponding to different degrees of consumer rationality: the traditional life-cycle consumption model, the case of inflation-adjustment of disposable income (no money illusion) and the case of full "tax discounting" (no fiscal illusion). In addition, the model incorporates explicitly the role of a variable interest rate and substitution between public and private consumption. The model is estimated using three different consumption aggregates at the single-country level and over the pooled data set. Estimates of the inflation-adjustment and fiscal illusion parameters are provided and specification tests opposing the three versions of the model are performed. The ... | |
653 | |a Economics | ||
856 | 4 | 0 | |u http://dx.doi.org/10.1787/012554655282 |z Volltext |
915 | |a zzwFZJ3 | ||
596 | |a 1 | ||
949 | |a XX(490261.1) |w AUTO |c 1 |i 490261-1001 |l ELECTRONIC |m ZB |r N |s Y |t E-BOOK |u 5/2/2016 |x UNKNOWN |z UNKNOWN |1 ONLINE |