It can be claimed that education is simply a normal consumption good and that like all other normal goods, an increase in wealth will produce an increase in the amount of schooling purchased. Increased incomes are associated with higher schooling attainment as the simple result of an income...

The first chapter investigates the incidence of the so-called hand-to-mouth, or simply HtM, consumers, i.e. households that consume their whole disposable income. Based on existing models, which introduced a two-dimensional analysis of HtM households with respect to their liquid and illiquid...