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D. A. Aschauer, “Does Public Capital Crowd Out Private Capital?” Journal of Monetary Economics, Vol. 24, No. 2, 1989, pp. 171-188. doi:10.1016/0304-3932(89)90002-0

has been cited by the following article:

• TITLE: Are Government Bonds Net Wealth? Some Empirical Evidence

  AUTHORS: Tito Belchior Silva Moreira, Geraldo da Silva e Souza, Fernando Antônio Ribeiro Soares

  KEYWORDS: Public Debt, Economic Growth, Ricardian Equivalence

  JOURNAL NAME: Modern Economy, Vol.2 No.3, July 28, 2011

  ABSTRACT: This paper aims to investigate the impact of government debt on economic growth for a balanced panel of G7 countries over the period 1990-2008. We found empirical evidence that Ricardian Equivalence does not holds in general. The analysis indicates that only Germany shows a negative association between public debt and economic growth. The US and France show Ricardian equivalence and UK, Japan, Italy and Canada show a positive association.