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That of the multiplier is a largely debated issue. Several studies propose estimates for it. This paper answers the … question of how inequality affects the value of the multiplier. The proposed formulation is analytically derived from the … Lorenz curve of income by means of Zanardi asymmetry index. Since the relationship between inequality and multiplier is found …
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A two-period model of temporary equilibrium with rationing is presented, paying particular attention to agents' expectations of future constraints. it is shown that with arbitrary constraint expectations many different types of current equilibria may be consistent with the same set of (current...
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Much of the new theory of macro-economics that has been built upon micro-economic models of imperfect information leads …
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This paper outlines a general set of principles for tax avoidance. Most of at least the common tax avoidance schemes can be reinterpreted as making use of one or more of these principles. Four such methods are described. In a perfect capital market, these methods would enable the astute taxpayer...
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