In this paper, we analyse anew the relationship between aggregate income and consumption in the United Kingdom. Our analysis entails a close examination of the structure of the data, for which we employ a variety of spectral methods which depend on the concepts of Fourier analysis. We discover...

Tax or debt financing of a given rate of government expenditures would, according to the now well-known Ricardian Equivalence proposition, have equivalent effects on aggregate demand. Among the reasons for a deviation from the equivalence is the possibility that the government and the private...

In two previous papers, Ramsey and Lampart demonstrated that regression analyses between timescale decompositions provided important insight into the properties of economic relationships. The idea in those papers was that the relationship between any two variables, say consumption and income,...