Crowding Out in Ricardian Economies
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https://www.nber.org/papers/w21550
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The crowding-out coefficient is the ratio of the reduction in privately-issued bonds to the increase in government bonds that are issued to finance a tax cut. If (1) Ricardian equivalence holds, and (2) households do not simultaneously borrow risklessly and have positive gross positions in other
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美国国家经济研究局创建时间：
2015-09-01
