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neoclassical theory to deal with uncertainty and risk aversion is based upon a string of assumptions which are empirically false …In Finance, Investment and Macroeconomics, Myron J. Gordon advances a theory of finance and investment under … uncertainty and risk aversion which resolves problems left unsolved by Keynes in a manner consistent with his work. Keynes …
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In evaluating environmental policy, researchers have tended to focus on the industry or market that is targeted by regulation and to disregard policy impacts in other parts of the economy. Recent research indicates, however, that in economies where governments rely on distortionary taxes,...
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This paper analyzes, in a public finance context, how the optimal use of the inflation and the consumption tax is affected by incorporating into the model constraints on policy decisions that are likely to develop in the context of the EMS by 1992. Two main questions are addressed: first, how...
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In most industrialized countries the tax burden of poor people has increased dramatically over the last few decades. This book analyses both the political origins of this increase and its consequences for the labour market
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"Combining theoretical and practical aspects of policy analysis, this book evaluates actual and proposed policy reforms to income tax and transfer systems, using a behavioural tax microsimulation model. It highlights how these models allow for the full details of tax systems and the considerable...
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