, while the accounting of household income from stock holdings may be skewing saving estimates. Moreover, broad measures of …

We determine the optimal combination of taxes on money, consumption and income in transactions technology models where …, regardless of whether the government can use as alternative fiscal instruments an income tax, a consumption tax, or the two taxes …

individual income data and assume that agents have to consume their endowment. I find that the model does not pass the Hansen and … Jagannathan test even for very volatile idiosyncratic income data. …

investigate the empirical relation between three cointegrated variables: aggregate consumption, asset wealth, and labor income … the following structural question about the short-run dynamics: "How quickly does consumption adjust to changes in income … in income or wealth have been realized. We argue here, however, that a statistical methodology different from that used …

An estimation of the life cycle/permanent income model with rational expectations that allows for uncertain future …

A calculation of the stochastic properties of consumption when income follows a fractional stochastic process, showing …