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I study a tax policy in Finland in 1976 that changed the basis for income taxation from couple’s joint income to individual income. Following the shift from family taxation to individual taxation, …
We turn the zero-profit condition that is typically used to determine the number of firms into a game of entry/exit. We assume that identical firms compete in Cournot fashion, and when market …
This paper considers average inflation targeting (AIT) policy in a New Keynesian model with adaptive learning agents. Our analysis raises concerns regarding robustness of AIT when agents have …