model may exhibit indeterminacy and sunspot fluctuations when income tax rates are determined by a balanced-budget rule … labour and capital below unity. We show that compared to the Cobb-Douglas case, the likelihood of indeterminacy under a …

In this paper we look at the relationship between health and income as mediated by "lifestyle" choices; that is, a set … that there are substantial differences between the permanent and transitory income determinants - also in terms of the … direction of the effects. Moreover, we find that income effects often differ significantly in size and sometimes sign according …