Usually, when we consider the information that is given in a household budget survey, we do so in terms of expenditures for different goods and services and how these relate to income, prices, and socio demographic factors such as age, family size, and education. Allocation of expenditures amongst different categories of consumption is seen as being determined by tastes and preferences acting in conjunction with a constraint imposed by prices and...
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Over the past two decades the new classical macroeconomics has become the single most coherent school of macroeconomic thought. Always controversial, it has nonetheless captured centre-stage, and has...
The book investigates issues of policy design in open economies. The performance of simple alternative policy rules is analysed in the context of theoretical models using both analytical solutions and...