Other publications may include books, quarterly reviews, annual reports and economic bulletins from the ECB, PhD theses and Danmarks Nationalbank’s policies.

Economic activity

The Income and Price Sensitivity of Private Consumption

Private consumption is in the first instance affected more by a gi-ven price change than by an equivalent change in disposable income. In the short term, consumption taxes are therefore a more effective fiscal-policy instrument than income taxes. In the long term there is no difference.