Seasonal Effects in Qualitative Responses of Monthly Business Surveys, Modeled with Log-Linear Probability Methods, Can Be Extracted Like in Linear Regression Or Some Time Series Models by Using Dummy Variables. There Is Another Route to Extract the Seasonal Effect, Which Is to Unique to...

In This Paper We Analyse the Effect of Seasonal Fluctuations Monthly Business in Survey Responses. We Study the Belgium Data Because This Questionnaires Have Some Interesting Aspects with Regard to Seasonality Which Allow Us to Look At the Impact of Seasonality on the Estimation of Log-Linear...

Bequest constraints have played a major role in discussions of debt neutrality but their welfare implications were not sufficiently dealt with in the literature. In this paper we focus on the welfare implications of bequest constraints. We found that when institutional constraints to the...

This paper analyzes the implications of tax policy for the accumulation of human and physical capital and for the overall productivity level of the economy. A comprehensive income tax, applying to both labour income and capital income. discriminates against investments in human capital relative...