Now that the dividend tax reduction is law, Republicans are already beginning to discuss their tax plans for next year. Such a rapid change in focus is likely to become part of the landscape in ...

This paper introduces money into the consumption-leisure based intertemporal substitution model. The optimization problem poses that the household chooses consumption, labor supply, money demand, and ...

No one has derived closed-form solutions for consumption with stochastic labor income and constant relative risk aversion utility. A numerical technique is used here to give an accurate approximation ...