<page_title> Ricardian equivalence </page_title> <section_title> Empirical results </section_title> <table> <cell> 1976–80 <col_header> Table 1 Saving and Consumption Measures 1961–86 </col_header> <col_header> Year </col_header> </cell> <cell> 62.96 <col_header> Table 1 Saving and Consumption Measures 1961–86 </col_header> <col_header> consumption (% of GNP) </col_header> </cell> <cell> 1981–86 <col_header> Table 1 Saving and Consumption Measures 1961–86 </col_header> <col_header> Year </col_header> </cell> <cell> 64.72 <col_header> Table 1 Saving and Consumption Measures 1961–86 </col_header> <col_header> consumption (% of GNP) </col_header> </cell> </table>
The ratio of consumption to GNP was 62.96 percent in the 1976–1980 period, and slightly increased to 64.72 percent in the 1981–1986 period.