caa a22 4500 469034289 CHVBK 20180323132752.0 cr unu---uuuuu 170328e19920601xx s 000 0 eng 10.1007/BF01460371 doi (NATIONALLICENCE)springer-10.1007/BF01460371 van Dalen Hendrik Department of Mathematical Economics, Erasmus University, Rotterdam, The Netherlands aut On the demographic realism of the Ricardian theory of public finance [Elektronische Daten] [Hendrik van Dalen] Summary: The possibility of public debt-neutrality is discussed for countries experiencing demographic changes. The heterogeneity of agents plays a decisive role in destroying Ricardian equivalence of public finance. In addition to the usual explanatory factors of non-neutrality, such as distortionary taxation, public debt is not equivalent to current taxation as a consequence of (1) disconnected dynasties, (2) uncertain lifetimes, (3) diverging birth rates, (4) international migration, (5) population growth uncertainty, (6) diverging rates of time preference, and (7) capital market imperfections. The paper concludes that thepure Ricardian model of public finance serves a purpose as a standard of argument for the more realistic models of public finance. Stenfert Kroese Uitgevers, 1992 De Economist Kluwer Academic Publishers 140/2(1992-06-01), 204-232 0013-063X 140:2<204 1992 140 10645 https://doi.org/10.1007/BF01460371 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1007/BF01460371 text/html Onlinezugriff via DOI NATIONALLICENCE 100 1- van Dalen Hendrik Department of Mathematical Economics, Erasmus University, Rotterdam, The Netherlands aut NATIONALLICENCE 773 0- De Economist Kluwer Academic Publishers 140/2(1992-06-01), 204-232 0013-063X 140:2<204 1992 140 10645 Metadata rights reserved Springer special CC-BY-NC licence nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer