According to Ricardian Equivalence Theorem (RET), today's consumption decisions would be independent of some fiscal variables such as lump sum taxes, government debt outstanding or the budget deficit given that government expenditures are fixed. The Permanent Income Hypothesis (PIH) consumption...

This paper investigates the demand for lamb, beef, pork, and poultry in Canada, both at the national level and in disaggregated provinces, to identify meat consumption patterns in different provinces. Meat consumption plays a significant role in Canada’s economy and is an important source of...

Hypothesis of purchasing power parity basically depends on the presumption of unique price in international trade. The price of a good is the same all over the world when it is converted to a common currency. In other words, one unit of national currency has the same purchasing power everywhere...

Previous research on prices of job amenities has suffered from simultaneity bias due to workers’ unobserved offer sets, resulting in “wrong-signed” compensating wage differentials. I propose a simple amenity pricing framework that uses an imprecise proxy for workers’ offer sets to...

The formation of the European Union (EU) is the one of the biggest political – economic events of the last 50 years. The aim of this study is to develop EU economy functioning system dynamic model. Main research method is system dynamics. General scheme of EU economy system dynamic model is...

There has been a lot of debate regarding the impact of emissions of pollutants on human health and the environment. Epidemiological studies tend to show the impact of increased ambient concentrations of pollutants on increased hospital admissions, mortality, morbidity, respiratory problems, etc....

The aim of this paper is to investigate, through economic science tools, the impact of economic downturn and Memorandum health policies, under the hypothesis that Household Health Expenditure (HHE) was increased. Apart from that, a secondary objective is to interpret the Greeks behavior of...

El presente documento busca analizar el comportamiento de los hogares colombianos en la compra de vehículo nuevo para uso particular, y modelar el funcionamiento de la demanda de vehículos particulares en Colombia, entre 2009 y 2011. Esto a partir de la estimación de un modelo logit anidado...

The introduction of the concept of separate needs into cardinal utility theory requires two propositions. The first specifies that the shape of a utility function for a commodity (good, service or event) fulfilling a need should reflect the experiences of an individual as the commodity fulfils...

Is it better to apply effort to increase personal consumption, or control what one wants? The model presented here provides a characterization of demand for self control, namely, its responsiveness to price and risk. Unlike most other models of self control, the model does not identify self...