The Capitalism and Freedom in the Twenty-First Century Podcast cover image

Revisiting Empirical Macroeconomics with Robert Barro (Harvard Economics Professor)

The Capitalism and Freedom in the Twenty-First Century Podcast

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Exploring Ricardian Equivalence and Fiscal Policy

This chapter examines Ricardian equivalence and its impact on consumer behavior regarding government debt and fiscal policy. It discusses the tension between macroeconomic theories and empirical evidence, highlighting complexities in measuring consumer responses to tax cuts. Furthermore, the chapter addresses broader implications of government spending on GDP, inflation, and critiques of current economic modeling frameworks.

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