But holding a portion of one's wealth in a basket of foreign currencies is advisable, he says, as a portion of one's consumption over time comes from foreign goods produced both in developed and emerging markets.

WSJ: The Allure of Emerging-Markets Bonds

So if the government enacts a once-off tax rebate, theory would lead one to expect that people would spread increased consumption over time, rather than go out and binge.

ECONOMIST: Economics focus: Remember fiscal policy? | The