This paper presents a model of consumption and household production that takes into account substitution between health … related to marriage markets that could help explain consumption, including demand for medical care and good nutrition. These …

consumption-saving behavior. We construct a novel consumption-saving model where the household must infer the persistent component … marginal propensity to consume because the short run covariance between income growth and consumption growth increases when … can be identified from panel data on income and consumption. Finally, we estimate a high degree of knowledge in the Panel …

loan to increase lifetime savings are significantly more likely to underestimate their house value, while homeowners who … "cash-out refinance" an existing loan to fund current consumption are significantly more likely to overestimate their house …

(1988). The risk averse agent's savings play the role of a collateral, thereby improving consumption smoothing. Furthermore … savings and debt substitutable. If these assumptions are relaxed, consumption smoothing worsens but is still better than what …This paper studies the effect of combining different insurance schemes on the efficiency of consumption smoothing in an …

We extend the classic Merton (1969, 1971) problem that investigates the joint consumption-savings and portfolio … preferences as in Harris and Laibson (2013) and find closed-form solutions for Merton's optimal consumption and portfolio …

This paper presents a model of consumption and household production that takes into account substitution between health … related to marriage markets that could help explain consumption, including demand for medical care and good nutrition. These …

In this paper we look at the relationship between health and income as mediated by "lifestyle" choices; that is, a set … of behaviours which are thought to influence health and are generally considered to invoke a substantial degree of free … choice. The main underlying assumption is that individuals are co-producers of their own health. We first present a …

able to take into account consumption dynamics. In the model, households derive utility from consumption, and they relate … their purchase behavior to consumption planning. We illustrate our model for yogurt purchases, and show that our model …