state utility function--utility with a single argument, consumption plus monetized leisure. The monetized leisure model is … that leisure and consumption be substitutes (the cross-derivative of consumption and leisure be negative) and (ii) the … an open question. The rich empirical literature on the "retirement consumption paradox" suggests that the rate is below …

We propose a novel structural method to empirically identify economies of scale in household consumption. We assume … collective households with consumption technologies that define the public and private nature of expenditures through Barten … scales. Our method recovers the technology by solely exploiting preference information revealed by households' consumption …

This paper revisits the standard model of labor supply under two additional assumptions: consumption requires time and … utility at the optimum and above a critical wage level it converts into a pure consumption good. Their labor-supply curve is …

preferences and in the determination of optimal consumption and optimal bequests. We show how the consumption paths of dynasties … Bildung von langfristigen Zeitpräferenzen und während der Bestimmung des optimalen Grads an Konsum und Vermächtnis. Wir zeigen …