This article empirically investigates the effects of differential income taxation on households' portfolio choice and asset allocation, applying a two-stage budgeting model of asset demand to German survey data. The model is structured into the discrete and the continuous asset choice....

Models of cooperative and noncooperative behaviour opened the household ‘black box’ and allowed for individual treatment of partners in couples. However, labour supply literature has so far largely ignored a broader issue -- the distinction of single versus multi-family (‘complex’)...