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1 On Variable Interest Rates
1 Optimal Consumption with Variable Interest Rate
1 On Deriving the Slutsky Equation
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actual assumed assumption attributable average before-tax behavior bequest motive Chapter coefficient consider constant consumer correlated tastes correlation between w0 course cycle defined derived differential distribution of income distribution of inherited economic theory effect egalitarian society elasticity equation estate tax exogenous follows functional form Gini coefficient Gini ratio household human capital impact income distribution increase individual inequality of opportunity inheritance tax inherited wealth iso-elastic K0+M labor supply labor's share life-cycle lifetime consumption lifetime earnings logarithmic lognormal lump-sum marginal utility maximization negative income tax normal distribution optimal bequest overall Pareto distribution person positive correlation present problem progressive property income proportional tax Proposition rate of return reader redistribution Regime IVa sample simulation results Slutsky equation Society Regime stochastic suggests Table taste for bequests taste parameters tax rate taxation theoretical tion unequal union utility function variable w0 and K0 wage rates wage subsidy workers zero