We show that US financial shocks have an impact on the distribution of UK income and consumption. Households with higher income and higher levels of consumption are affected more by this shock than households located towards the lower end of these distributions. An estimated multiple agent DSGE...

The tax incidence of different price-point instant lottery games is examined. Theoretical reasons exist for expecting higher-priced instant lottery games to be less regressive than lower-priced instant games. Using game-level data from a sample of states, the empirical results show that...

This paper estimates the impact on the US economy of four types of uncertainty about (i) government spending, (ii) tax changes, (iii) public debt sustainability and (iv) monetary policy. Following a one standard deviation shock, uncertainty about debt sustainability has the largest and most...