Leonardo Leiderman - Academia.edu (original) (raw)
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Papers by Leonardo Leiderman
European Economic Review, 1980
European Economic Review, 1980
This paper derives and tests the restrictions implied by an optimizing model of currency substitu... more This paper derives and tests the restrictions implied by an optimizing model of currency substitution under nonexpected utility using quarterly data for Israel from 1978 to 1988. We find that the elasticity of intertemporal substitution is less than one, the elasticity of currency substitution is greater than one, relative risk aversion is about seven, and the elasticity of currency substitution
Imf Working Papers, Aug 1, 1992
Cuadernos Economicos De Ice, 1989
Working Papers Central Bank of Chile, Jun 1, 2006
Economia Mexicana Nueva Epoca, 1995
Ricardian Equivalence states that, under certain circumstances and for a given path of expenditur... more Ricardian Equivalence states that, under certain circumstances and for a given path of expenditures, the substitution of debt for taxes does not affect private sector wealth and consumption. Ricardian Equivalence is based on the premise that debt financing is only a change in the timing of taxation that has no impact on private sector consumption if the present value of the stream of taxation remains unchanged. This paper provides a model that illustrates the implications of Ricardian Equivalence, surveys the relevant literature, and considers the effects of relaxing the basic assumptions. It also critically reviews recent empirical work on Ricardian Equivalence.
Capital Mobility New Perspectives, 1993
European Economic Review, 1980
European Economic Review, 1980
This paper derives and tests the restrictions implied by an optimizing model of currency substitu... more This paper derives and tests the restrictions implied by an optimizing model of currency substitution under nonexpected utility using quarterly data for Israel from 1978 to 1988. We find that the elasticity of intertemporal substitution is less than one, the elasticity of currency substitution is greater than one, relative risk aversion is about seven, and the elasticity of currency substitution
Imf Working Papers, Aug 1, 1992
Cuadernos Economicos De Ice, 1989
Working Papers Central Bank of Chile, Jun 1, 2006
Economia Mexicana Nueva Epoca, 1995
Ricardian Equivalence states that, under certain circumstances and for a given path of expenditur... more Ricardian Equivalence states that, under certain circumstances and for a given path of expenditures, the substitution of debt for taxes does not affect private sector wealth and consumption. Ricardian Equivalence is based on the premise that debt financing is only a change in the timing of taxation that has no impact on private sector consumption if the present value of the stream of taxation remains unchanged. This paper provides a model that illustrates the implications of Ricardian Equivalence, surveys the relevant literature, and considers the effects of relaxing the basic assumptions. It also critically reviews recent empirical work on Ricardian Equivalence.
Capital Mobility New Perspectives, 1993