Ricardian equivalence

English

Proposed by economist David Ricardo in the early 19th century.

Ricardian equivalence (uncountable)

(economics) The idea that consumers are forward-looking and so internalize the government's budget constraint when making their consumption decisions, so that, for a given pattern of government spending, the method of financing such spending does not affect agents' consumption decisions, and thus does not change aggregate demand.

单词	Ricardian equivalence
释义	Ricardian equivalence English Etymology Proposed by economist David Ricardo in the early 19th century. Noun Ricardian equivalence (uncountable) (economics) The idea that consumers are forward-looking and so internalize the government's budget constraint when making their consumption decisions, so that, for a given pattern of government spending, the method of financing such spending does not affect agents' consumption decisions, and thus does not change aggregate demand.
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