Replicating Ricardian equivalence tests with simulated series

Article Abstract:

A model which nests Ricardian equivalence with non-Ricardian alternative was formulated to duplicate standard consumption function tests of Ricardian equivalence. Tests for consumption function reveal that the estimates on income, wealth, and government spending are robust and similar to findings in empirical literature while estimates on coefficients on tax revenue and government debt variables are not robust. The representations indicate a low correlation between government budget deficits and current account which prevents effective conclusions to be drawn from the subject.

Administration of General Economic Programs, Economics, Research and Development in the Social Sciences and Humanities, Domestic Monetary Policy, Government spending policy, Monetary policy, Budget deficits

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Generational accounting around the globe

Article Abstract:

Generational accounting is a novel method of long-term fiscal planning and analysis. It is being carried out in a large and growing number of nations. Compared against deficit accounting, generational accounting has four major advantages. It is forward-looking, comprehensive, addresses economic concerns, and is invariant to the economically arbitrary choice of fiscal vocabulary. Generational accounting results revealed that a number of countries have severe generational imbalances.

Accounting Methods, Methods, Accounting

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Is the extended family altruistically linked? Direct tests using micro data

Article Abstract:

Data from the Panel Study of Income Dynamics are used to test the conventional model of altruism. The model forecasts that consumption distribution within an extended family is not dependent on resource distribution. The research rejects this prediction. Consumption distribution among parents and children is affected by resource distribution.

Models, Economic aspects, Family, Altruism, Altruism (Human behavior)

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