the reform are entirely driven by the traditional substitution and income effects as in a unitary model. …

This paper explores the hypothesis that the propensity to consume out of income varies in a non-linear fashion with …

income shocks. The findings also yield a number of important caveats and policy considerations, however, that have largely …

income, (iv) instituting taxation of imputed rental income from owner-occupied housing and (v) eliminating the property tax … allowance for rental income would be the least effective. Our experiments also highlight the differential welfare impact of each …