Purpose: The authors examine the optimal consumption decisions of households in a micro-founded framework that introduces endogenous default. They study default in the context of a two-period process, assuming three non-overlapping steps of non-payment: delinquency, non-performing loans and...

Purpose: A growing amount of micro-data analyses has highlighted the importance of information trails, such as generated by card transactions, for improving tax compliance. Yet, time series evidence indicating a positive effect of card payments on VAT revenue performance has been scarce. This...

This paper investigates the long‐ and short‐run determinants of aggregate private savings in Greece employing data over the period 1961‐2000. The long‐run savings function is estimated based on an extended life‐cycle hypothesis taking into account the economic and demographic...

This paper investigates the long- and short-run determinants of aggregate private savings in Greece employing data over the period 1961-2000. The long-run savings function is estimated based on an extended life-cycle hypothesis taking into account the economic and demographic developments during...

Offers a response to David Laidler’s article “More on Hawtrey, Harvard and Chicago”, in this issue. Asserts that the unique Chicagoan quantity-theory of the early 1930s embodied a policy framework which left it immune from the Keynesian revolution and contained important linkages with...

Offers a response to David Laidler’s article “More on Hawtrey, Harvard and Chicago”, in this issue. Asserts that the unique Chicagoan quantity‐theory of the early 1930s embodied a policy framework which left it immune from the Keynesian revolution and contained important linkages with...