The question of whether higher–lifetime income households save a larger fraction of their
income was the subject of much debate in the 1950s and 1960s, and while not resolved, it …

This paper explores the household behavior that underlies the link between wealth and
consumption at the aggregate level. One possibility is that changes in wealth directly cause …

If the US should limit CO2 emissions, an allowance trading policy may offer one method of
achieving that goal in a cost-effective manner. The distributional effects of such a program …

Shifting the tax burden from labor to consumption is proposed in many developed countries
as a way to make the tax system more incentive compatible. This article deals with the …

We use a calibrated life-cycle model to evaluate why high income households save as a
group a much higher fraction of income than do low income households in US cross-section …

This paper examines the distribution of income and consumption in the US using one
dataset that obtains measures of both income and consumption from the same set of …

Life-Cycle Savings and Public Policy examines data on many households from a number of
different countries. The hope is that through these observations we can learn about the ways …

This article concerns a tax policy issue of keen current interest: the possible replacement of
the income tax with a broad-based tax on consumption. The leadership of the new 104th …

When emerging digital technology companies, such as Google, started providing free email
accounts or search engine services in the 1990s, many people anticipated that such highly …

The prediction that consumption-income ratios should decline as income rises in cross-
sectional data is a feature of Friedman's (1957) permanent income hypothesis and other …