@article {19062,
	title = {Ricardian Consumers with Keynesian Propensities},
	journal = {American Economic Review},
	volume = {76},
	number = {Sept},
	year = {1986},
	pages = {676-691},
	abstract = {This paper examines Ricardian equivalence in a world in which taxes are not lump sum, but are levied on risky labor income. It shows that the marginal propensity to consume out of a tax cut, coupled with a future income tax increase, can be substantial under plausible assumptions. Indeed, the MPC out of a tax cut can be closer to the Keynesian value that ignores the future tax liabilities than to the Ricardian value that treats future taxes as if they were lump sum.
},
	author = {N.G. Mankiw and Robert Barsky and Stephen Zeldes}
}
