<link rid="b3">Barsky, Mankiw and Zeldes (1986)</link> have argued that uncertainty about future income can generate strong 'Keynesian' responses to tax changes by consumers who have far-sighted 'Ricardian' preferences. The paper argues that this conclusion relies on an inappropriate treatment of future tax policies....

This paper demonstrates that Alfred Marshall's four rules for the determinants of the elasticity of derived demand, as amended by John R. Hicks, are inapplicable except in special circumstances, such as Cobb-Douglas technology. Generalized versions of the rules are derived for the more normal...