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:
“Parents’ accepting attitudes can help children learn to be open and tolerant. Parents can explain unfamiliar behavior or physical handicaps and show children that the appropriate response to differences should be interest rather than revulsion.”
—Dian G. Smith (20th century)