In the mid-1990s, the Japanese government implemented a set of very large, temporary tax cuts. These cuts
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In the mid-1990s, the Japanese government implemented a set of very large, temporary tax cuts. These cuts had very little impact on personal consumption (Watanabe et al., 2001). Is this finding consistent with the life-cycle model of consumer behaviour? If the life-cycle model is correct, and the Japanese government wishes to use tax policy to stimulate consumption, what advice would you give?
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This finding is completely consistent with the lifecycle ...View the full answer
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Related Book For 
Public Finance In Canada
ISBN: 9781259030772
5th Canadian Edition
Authors: Harvey S. Rosen, Ted Gayer, Jean-Francois Wen, Tracy Snoddon
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