Efforts to reconcile inconsistencies between theory and estimates of the income elasticity of the value of a … how exogenous income shocks, such as unexpected medical expenditures, may affect labor supply decisions which in turn …

beyond those of expected utility theory. It is shown that the curvature of the utility function is directly related to the … ratio of the income elasticity of labor supply to the wage elasticity, holding fixed the degree of complementarity between … stochastic. Using a large set of existing estimates of wage and income elasticities, I find a mean estimate of g = 1. I also give …

high CRRA's imply equally high values for the income elasticity of the value of a statistical life. Yet estimates of this …

utility model. I derive a formula for the coefficient of relative risk aversion (g) in terms of (1) the ratio of the income …

restrictions that the theory imposes on the joint behavior of consumption and income growth, and combining realizations and …We review different empirical approaches that researchers have taken to estimate how consumption responds to income … changes. We critically evaluate the empirical evidence on the sensitivity of consumption to predicted income changes …

Since Feldstein (1999), the most widely used method of calculating the excess burden of income taxation is to estimate … the effect of tax rates on reported taxable income. This paper reevaluates the taxable income elasticity as a measure of … taxable income and total earned income elasticities, with the weight determined by the marginal resource cost of sheltering …

instrumental variables estimates of the sensitivity of income to changes in tax rates. From 1979 to 1981, the US income tax … changes in income between taxpayers close to the top-end of a tax bracket to the other taxpayers. These estimates, based on … comparisons between very similar groups, are robust to underlying changes in the income distribution, such as a rise in inequality …