This “expensing” provision was a favorite of consumption tax theorists, and became part of the stimulus bill because its designers hoped to eventually make expensing full and permanent.

Both sets of estimates roughly coincide at a maximum of the likelihood function for each model. In addition, ELES equations add up to a `Keynesian' consumption function. An estimate of the MPC is ...

When the production function has a finite slope at the origin, we show that a solution to the aforementioned problem exists for a twice continuously differentiable, strictly increasing consumption ...