Abstract
The macroeconomic effect of government debt can be analyzed in several ways. Among others, it is important to investigate the plausibility of debt neutrality in the Japanese economy. There are two types of debt neutrality, Ricardian neutrality and Barro’s neutrality. It is useful to distinguish the two neutrality propositions for evaluating the efficacy of fiscal policy; the weak version and the strong version. We have the following proposition as Ricardian neutrality, which is the weak version of debt neutrality
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Ihori, T., Kondo, H. (2002). Debt Neutrality. In: Ihori, T., Sato, M. (eds) Government Deficit and Fiscal Reform in Japan. Research Monographs in Japan-U.S. Business & Economics, vol 7. Springer, Boston, MA. https://doi.org/10.1007/978-1-4757-3528-4_2
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DOI: https://doi.org/10.1007/978-1-4757-3528-4_2
Publisher Name: Springer, Boston, MA
Print ISBN: 978-1-4419-5292-9
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