debt neutrality, finite horizons, and private savings behavior

Jäger, Albert (November 1990) debt neutrality, finite horizons, and private savings behavior. Former Series > Forschungsberichte / Research Memoranda 273


Download (792kB) | Preview


abstract: the paper has two purposes: first, to study the quantitative importance of deviations from debt neutrality in a multiperiod finite-horizon economy. second, to provide new empirical evidence on the validity of the debt neutrality proposition based on a near-century of time series evidence for the u.s. and the u.k. the results suggest that the behavior of private savings rates outside war-periods is not consistent with debt neutrality, and that the assumption of finite horizons is unlikely to account for this finding.;

Item Type: IHS Series
Date Deposited: 26 Sep 2014 10:34
Last Modified: 01 Apr 2016 14:07

Actions (login required)

View Item View Item