Household Debt and the Dynamic Effects of Income Tax Changes
Using a new narrative measure of fiscal policy shocks for the U.K., we show that households with mortgage debt exhibit large and significant consumption responses to tax changes. Homeowners without a mortgage, in contrast, do not adjust their expenditure, with responses not statistically different from zero at all horizons.
Virtual Issue: Family Economics
The concept of gender is becoming increasingly important. Explore today The Review of Economic Studies virtual issue: "Family Economics: Female Labor, Supply, Marriage, and Fertility".
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Should old-age social insurance be means-tested?
Almost everyone faces some risk of ending up old, sick, alone, and poor. The lengths of our lives are uncertain. Aging comes with increased chances of needing costly medical car...
Climate and the inequality of nations
Countries grow richer as one moves away from the equator, and the same is generally true if one looks at differences among regions within countries. However, this was not always the case...
Out with the old?
Innovation is a primary driver of economic growth and of the rise in living standards, and a substantial body of research has been devoted to documenting the welfare benefits from it.
Education and crime over the life cycle
Crime is a hot issue on the policy agenda in the United States. Despite a significant fall in crime levels during the 1990s, the costs to taxpayers have soared together with the prison population.
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