; ; ; "ActiveFedora::Aggregation::ListSource" . a , ; "Ricardian Equivalence and Money Dominated in Return: Are they Mutually Consistent Generally?"; ; "batchuser@example.com"; "Wallace, Neil"; "This paper was presented for the International Seminar in Public Economics, held in February 1984 at the University of California at Santa Cruz."^^; "Federal Reserve Bank of Minneapolis"; "Ricardian equivalency", "Deficit", "Open market purchases", "Money demand"; "E52 - Monetary Policy", "E41 - Demand for Money"; "Different conclusions about the effects of open market operations are reached even among economists using full employment and rational expectations models. I show that these can be attributed to different assumptions regarding (i) the concept of the deficit that is held fixed in the face of an open market operation, (ii) diversity among agents, and (iii) the features generating money demand. With regard to (iii), I argue that plausible ways of explaining the holding of low-return money preclude the kind of perfect credit markets needed to obtain Ricardian equivalence."^^; "1984-05"; "2018-03-13T20:38:26.533298139+00:00"^^; "https://doi.org/10.21034/wp.251"; ; "19850500fedmsr99"; "https://creativecommons.org/licenses/by-nc/4.0/"; "2020-09-30T21:14:34.096184499+00:00"^^; "https://creativecommons.org/licenses/by-nc/4.0/"; "Research Paper"; "823"; "Working paper (Federal Reserve Bank of Minneapolis. Research Department)"; "251"; "Ricardian equivalency", "Deficit", "Open market purchases", "Money demand"; ; ; ; ; "Federal Reserve Bank of Minneapolis. Research Department"; "An updated version of this Working Paper is available as [Staff Report 99](https://doi.org/10.21034/sr.99)."^^; ; "Publication" . ; .