This paper investigates whether there are simple versions of the permanent income hypothesis which are consistent with the aggregate U.S. consumption and output data. Our analysis is conducted within the confines of a simple dynamic general equilibrium model of aggregate real output, investment,...

"Many citizens, politicians and political activists voice concern about the political influence of business in the European Union (EU). But do business interests really pull the strings in Brussels? Contrary to what is widely expected, this book shows that business interests are no more...