Dr Hamish Low

This paper analyses the likely implications of the temporary cut in VAT in the UK to 15 per cent, with a return to 17.5 per cent in place for the end of 2009.

We look at the impact the government's cut in the VAT rate could have on people's spending.

This paper concerns the decomposition of income risk into permanent and transitory components using repeated cross-section data on income and consumption.

We specify a structural life-cycle model of consumption, labour supply and job mobility in an economy with search frictions that allows us to distinguish between different sources of risk and to estimate their effects.

This paper uses a structural model to address the question of why home-owners with large mortgage debt work longer hours than those without such debt.

This paper decomposes the sources of risk to income that individuals face over their lifetimes.

This paper shows that a power utility specification of preferences over total expenditure (ie. CRRA preferences) implies that intratemporal demands are in the PIGL/PIGLOG class.

Job losers exhibit significant heterogeneity in wealth holdings and in the marginal propensity to consume transitory income.

This paper assesses the accuracy of decomposing income risk into permanent and transitory components using income and consumption data.

This paper analyses optimal income taxation as a trade-off between the incentive effects of increased uncertainty and the welfare benefits of social insurance.

In this paper we consider conditions under which the estimation of a log-linearized Euler equation for consumption yields consistent estimates of the preference parameters.

In this paper we consider conditions under which the estimation of a log-linearized Euler equation for consumption yields consistent estimates of preference parameters.

This paper analyses the trade-off between the incentive effects of increased uncertainty and the welfare benefits of risk-sharing in the design of optimal tax schedules.

This paper analyses the effect on the capital stock and growth rate of policies that allow banks to have monopoly power.

Very little is known about how households hold their savings, if they have any at all. This study shows how the amount and nature of household saving and wealth vary across different household types.