Barro's Response
In 1976, Barro recognized that uncertainty may play a role in changing individual behavior. Nevertheless, he argued,
- ...it is much less clear that this complication would imply systematic errors in a direction such that public debt issue raises aggregate demand.
In 1989, Barro offered a number of defenses against various other critiques.
Read more about this topic: Ricardian Equivalence
Famous quotes containing the word response:
“I am accustomed to think very long of going anywhere,—am slow to move. I hope to hear a response of the oracle first.”
—Henry David Thoreau (1817–1862)