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The recent Malaysian attempt to introduce the Goods and Services Tax (GST) was thwarted by public concerns about: (i) its impact on the price level; (ii) its regressivity; (iii) the possibility of the rate increases once the tax is in place; and finally, the disincentive large revenues from the GST...
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The paper discusses some channels through which corruption affects growth such as the impact of corruption on enterprises, on the allocation of talent, and on investment. It also discusses the impact of corruption on some aspects of public finance.
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State-level consumption exhibits excess sensitivity to lagged income to the same extent as US aggregate data, but state …-specific (idiosyncratic) consumption exhibits substantially less sensitivity to lagged stste-specific income - a result that also holds for … reaction of consumption to idiosynctratic disposable income shocks even if it fails at the aggregate US level. Further analysis …
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the permanent-income model that allows for nonseparability between domestic and imported goods consumption. The …
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D EJUAN J. (2003) The response of consumption to income innovations: evidence from UK regions, Reg. Studies 37 , 445 …-451. The permanent income hypothesis (PIH) predicts an income innovation has the same size effect on consumption as on …
Persistent link: https://www.econbiz.de/10005457463
Simple life cycle and permanent income hypotheses imply that changes in consumption should be unforecastable. Rational … forward-looking agents ought to smooth consumption over the life cycle and exhaust the asset stock accumulated during the … of literature focuses particularly on the life cycle issues of consumption behaviour. …
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