Exploring Household Saving and Consumption-Smoothing in the Philippines

This paper explores whether or not the saving behavior of Filipino households fits the life-cycle hypothesis. Using pseudo-panels, which are constructed from the public use data files of the Family Income and Expenditures Survey of 1988 to 2000, it shows that consumption rises with the age of the household head and that the consumption profile has been rising for younger cohorts. The regressions indicate that the cohort-independent age effects on consumption simply track those on income across all ages, suggesting that Filipino households do not behave as the life-cycle hypothesis prescribes, possibly because they are liquidity constrained or impatient.consumption smoothing, household savings, household consumption

Exploring Household Saving and Consumption-Smoothing in the Philippines

This paper explores whether or not the saving behavior of Filipino households fits the life-cycle hypothesis. Using pseudo-panels, which are constructed from the public use data files of the Family Income and Expenditures Survey of 1988 to 2000, it shows that consumption rises with the age of the household head and that the consumption profile has been rising for younger cohorts. The regressions indicate that the cohort-independent age effects on consumption simply track those on income across all ages, suggesting that Filipino households do not behave as the life-cycle hypothesis prescribes, possibly because they are liquidity constrained or impatient.consumption smoothing, household savings, household consumption

The Empty Promise of Estate Tax Repeal

The terms of the debate over the estate tax have been framed largely by abolitionists who have propounded an antitax message that portrays the estate tax as unambiguously harmful and threatening to ordinary families and small businesses. The attack on the estate tax is linked to a larger agenda of eliminating taxes on capital and capital income and dismantling the progressive elements of the federal tax system. The slogan of estate tax repeal, while effective in mobilizing antitax sentiment, makes no sense as a matter of tax policy because it downplays revenue costs, distributional effects, administrative concerns, and consequences for the rest of the tax system. The 2001 Act illustrates the gap between the abolitionists\u27 simplistic antitax agenda and the complex reality of tradeoffs among competing tax and spending priorities. The estate tax cuts enacted in 2001 imply large revenue losses as well as a shift in tax burdens from the very rich to the middle class and from current taxpayers to future taxpayers. This appears to be a step in precisely the wrong direction, given growing inequalities of income and wealth and a looming fiscal gap

Bis(μ2-N-methyl-N-phenyldithiocarbamato)-κ3S,S′:S;κ3S:S,S′-bis[(N-methyl-N-phenyldithiocarbamato-κ2S,S′)cadmium]: crystal structure and Hirshfeld surface analysis

The title compound, [Cd2(C8H8NS2)4], is a centrosymmetric dimer with both chelating and μ2-tridentate dithiocarbamate ligands. The resulting S5 donor set defines a CdII coordination geometry intermediate between square-pyramidal and trigonal–bipyramidal, but tending towards the former. The packing features C—H...S and C—H...π interactions, which generate a three-dimensional network. The influence of these interactions, along with intra-dimer π–π interactions between chelate rings, has been investigated by an analysis of the Hirshfeld surface

Hamiltonian Formalism of the de-Sitter Invariant Special Relativity

Lagrangian of the Einstein's special relativity with universal parameter $c$ ($\mathcal{SR}_c$) is invariant under Poincar\'e transformation which preserves Lorentz metric $\eta_{\mu\nu}$. The $\mathcal{SR}_c$ has been extended to be one which is invariant under de Sitter transformation that preserves so called Beltrami metric $B_{\mu\nu}$. There are two universal parameters $c$ and $R$ in this Special Relativity (denote it as $\mathcal{SR}_{cR}$). The Lagrangian-Hamiltonian formulism of $\mathcal{SR}_{cR}$ is formulated in this paper. The canonic energy, canonic momenta, and 10 Noether charges corresponding to the space-time's de Sitter symmetry are derived. The canonical quantization of the mechanics for $\mathcal{SR}_{cR}$-free particle is performed. The physics related to it is discussed.Comment: 24 pages, no figur

1-Chloro-4-[2-(4-chlorophenyl)ethyl]benzene and its bromo analogue: crystal structure, Hirshfeld surface analysis and computational chemistry

The crystal and molecular structures of C14H12Cl2, (I), and C14H12Br2, (II), are described. The asymmetric unit of (I) comprises two independent molecules, A and B, each disposed about a centre of inversion. Each molecule approximates mirror symmetry [the Cb—Cb—Ce—Ce torsion angles = 83.46 (19) and 95.17 (17) for A, and 83.7 (2) and 94.75 (19) for B; b = benzene and e = ethylene]. By contrast, the molecule in (II) is twisted, as seen in the dihedral angle of 59.29 (11) between the benzene rings cf. 0 in (I). The molecular packing of (I) features benzene-C—H...π(benzene) and Cl...Cl contacts that lead to an open three-dimensional (3D) architecture that enables twofold 3D–3D interpenetration. The presence of benzene-C—H...π(benzene) and Br...Br contacts in the crystal of (II) consolidate the 3D architecture. The analysis of the calculated Hirshfeld surfaces confirm the influence of the benzene-C—H...π(benzene) and X...X contacts on the molecular packing and show that, to a first approximation, H...H, C...H/H...C and C...X/X...C contacts dominate the packing, each contributing about 30% to the overall surface in each of (I) and (II). The analysis also clearly differentiates between the A and B molecules of (I)