Barro assumptions
For it to work, this needs several conditions, most commonly:
A perfect capital market where any household can
borrow or save as much as is required at a fixed rate
which is the same for all persons at a given date.
The path of government spending is fixed
Intergenerational concern. Ricardian equivalence only
happens when the current generation has some concern
for all future generations, even if not a perfect concern.
These assumptions are widely challenged.
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