Grant, Charles; Koulovatianos, Christos; Michaelides, … - Center for Financial Studies - 2008
University Frankfurt, and CFS, Department of Economics, University of Vienna, Hohenstaufengasse 9, A-
1010 Vienna, AUSTRIA; Tel … states and might not be orthogonal to the marginal tax rates. Second,
business cycle efiects jointly afiect income and … of business cycle efiects, which jointly afiect income, taxes and
consumption. The results conflrm that consumption …