The extant literature on status-signalling primarily adopts Veblen's theory of class to caste and racial identities. This study aims to adopt a more suitable theoretical lens that is more relevant not only for class identities, but also for other identities such as caste and race. By viewing...

This paper develops a comprehensive measure of household economic well-being. The "sustainable consumption" concept accounts for income, assets, debt, transfer payments, and asset returns to estimate a consumption path that balances resources with expenditure over a household's lifetime....

This paper examines the prevalence of disability and its effects on household consumption. The fixed effects model is estimated to analyze the impact of disability on consumption. The disability prevalence rate is as large as 30% of surveyed households. The results show that disability of any...

This paper examines how bilateral economic linkages shape consumption synchronization across economies. Using state-level data from the US, we find that the degree of bilateral consumption risk sharing decreases with geographic distance. To explain this novel fact, we develop an open economy...

The mainstream economic theory argues that savings positively affect economic growth. Keynes, on the contrary, claims that an increase in savings lowers economic growth, as reduced consumption negatively affects investment. A number of studies also argue that due to the adjustment costs and...

Manufacturing activities are associated with environmental issues, including industrial waste and dust. Recent comprehensive policies in China have effectively reduced the emissions of some atmospheric pollutants, such as SO2, NOx, CO, PM10, and VOC.However, this does not apply to industrial...

Several papers show that the apparent disconnect between stock returns and consumption growth is due to mismeasurement in standard consumption data, and propose to use new consumption measures instead. This paper finds that standard consumption is valuable for asset pricing if one focuses on...

There is a growing momentum to base the poverty line on total consumption expenditure as it is a better measure of welfare. This chapter explores three related approaches to measuring household welfare that together represent an alternative ‘inductive’ measuring approach. We focus on...