Ricardian equivalence and wealth in the utility

[pmichaillat]

Following up on @YoshiShono's research idea: There is a short discussion of the Ricardian equivalence, and how to break it in a model with wealth in the utility, on p. 28 of this paper. This is an early version of the paper that we will study later in the course, when we build a dynamic model of slack.

This is only a verbal description of the idea: we never formally modeled it.

[YoshiShono]

Thank you so much!