Microsimulation models for indirect taxation require detailed underlying demand systems, in order to be policy relevant. A possible solution for the econometric problem (lack of necessary degrees of freedom) is the separability concept and the closely related notion of two-stage budgeting. In...

Microsimulation models for indirect taxation require detailed underlying demand systems, in order to be policy relevant. A possible solution for the econometric problem (lack of necessary degrees of freedom) is the separability concept and the closely related notion of two-stage budgeting. In...

This paper presents an ordered logit approach to model the optimal timing of buying a house in the life cycle. The model is applied to three recent Belgian household budget surveys. We find that households postpone homeownership or choose to be lifelong tenant due to an increase of the...

What constitutes a good life? For most people, well-being involves more than a high income or material prosperity alone. Many non-material aspects, such as health, family life, living environment, job quality and the meaningful use of time are at least as important. Together, these factors also...

Besley (1988) is one of the few exceptional articles containing non-welfarist optimal tax devices. Feehan(1990) reports an error in his first-best rules. The present note criticizes the fundamentals of Besley's second-best rules. These rules optimize the welfare or well-being of phantom agents...