This paper presents a revealed preference method for calculating a lower bound on the virtual price of new goods and suggests a way to improve these bounds by using non-parametric expansion paths. This allows the calculation of cost-of-living and price indices when the number of goods changes between periods.
We develop a method which has the main advantage over alternatives of allowing us to combine appealing budget share specifications with a model of quality choice in a way which is fully consistent with demand theory.
In this paper we examine the concept of intergenerational mobility in earnings and in lifetime or 'permanent' status, and discuss its measurement using regression and quantile transition matrix approaches.
This paper contrasts Samuelson's (1964) definition of "true economic depreciation" with the use of this term that has become standard in the more recent literature on neutral business taxes.
The study, using the 1988-89 Retirement Survey in Britain: (i) estimates expenditure on housing relative to income for the sample aged 55-69, (ii) simulates optimal housing/consumption allocations for a simple life cycle model and (iii) examines the relationship between 'excess' holdings of housing, financial dissaving and other portfolio behaviour subsequent to retirement.
Our paper evaluates the labour supply effects of 'in work' benefit reforms in the UK, using the means-tested benefit reforms of July 1995 as an example.
A new procedure for measuring horizontal inequity and vertical equity in the income tax is proposed, for which the "equals" under the tax law are socioeconomic groups, and the equal treatment norm is a command that, for equity, these groups should face the same tax schedule.
