The Spirit Level made strong claims that in developed countries, income growth was no longer important and the focus should turn to income differentials within society. Putting affluence before parity and solidarity led ...
The economic literature on professional sports leagues suggests supporters’
utility depends on uncertainty of outcome (competitive balance) and the quality of
play. Unlike soccer, where the Champions League is dominated ...
Economic theory predicts that the current change in national wealth, broadly defined to include natural and human capital as well as produced capital ("genuine savings"), determines whether the present value of future ...
If asset returns are predictable, then rational expectations and the arithmetic of budget constraints together imply that these predictable changes in returns should affect current consumption. This paper presents a new ...
This paper examines the conjecture that tax reform recommendations are not as sensitive to underlying consumer demand systems as are derived optimal tax rates. Tax reform recommendations for Ireland using the Ahmad-Stern ...
We propose a new methodology to estimate the share of household income accruing
to children (i.e., the cost of children). Following the principle of the Rothbarth
approach, the identi cation of the children's share ...
We apply an extension of the Rothbarth approach to estimate the share of
household resources accruing to children (i.e., the cost of children) in Ireland.
The method also allows us to identify the economies of scale in ...
Lettau and Ludvigson (2001) argue that a log-linearized approximation to an aggregate budget constraint predicts that log consumption, assets, and labour income will be cointegrated. They conclude that this cointegrating ...
In this paper, we suggest a collective model with parents and (young)
children. We identify and estimate scale economies in households and the
sharing rule between husband, wife and children. While adult shares and
economies ...