This paper estimates a simple consumption-smoothing model of the French current account, and examines its capacity to predict recent developments in France's external performance.

sta The Consumption Capital Asset Pricing Model (C-CAPM) is tested using data on equity prices in Jordan, Turkey, and Pakistan over the period 1986-93. The analysis is carried out in two steps. The parameters of agents' dynamic consumption and investment decisions are first estimated, and then...

This paper provides a unified framework in which to examine income and consumption tax revenue elasticities. In addition, new results are established in relation to consumption taxes. These results help to provide a better understanding of the determinants of the revenue responsiveness...

This paper provides new estimates of the revenue elasticity of income taxes in the UK over the period 1989-2000. Observed changes in these elasticities are decomposed into changes due to inflation, real income growth, changes in fiscal structure, and changes in the dispersion of incomes in the...

Since Brown (1952), standard habit formation models of consumption have exclusively focused on non-durables and services expenditure, and have assumed that the depreciation of the habit stock is a linear, univariate process. This paper builds on Ermini (1997) to dispense with these two...

This paper compares a form of endogenous preferences introduced by Uzawa with additive preferences by simulating the optimal consumption response for a small open economy to permanent and temporary shocks to the world rate of interest. Uzawa preferences, by endogenising the rate of time...

This paper looks at the interaction between public and private consumption in Australia. The results show that there is substitution between private and public consumption in the long-run and that in the short-run, changes to government consumption secures a retourn to equilibrium following a shock.

Since Brown (1952), habit formation models of consumption have assumed that memory loss is a univariate process. This paper dispenses with this assumption to consider habit modification in consumption. A model is proposed where household credit depletes the habit stock and motivates consumers...

This paper examines the question of the extent to which redistribution can be achieved using a structure of consumption taxes differential rates and exemptions. A local measure of progression, that of liability progression (equivalent to the revenue elasticity) is examined. Results are obtained...

The good health of an individual is a combination of uncontrollable factors that includes genetics and random events and controllable factors through the regulation of activities such as smoking, drinking, eating, exercise and other informed choices. Since the work of Grossman (1972) a...