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Estimating and testing intertemporal preferences: A unified framework for consumption, work and savings
Chin, William - EconWPA - 2004
profit function rationalizing consumption, labor supply and savings is specified, estimated and used to test commonly … maintained separability hypotheses. Both consumption- labor and time separability are rejected. Cross-price Frisch elasticities … are found not to equal zero and this in turns affects all estimates of consumption, labor supply and saving elasticities …
Persistent link: https://www.econbiz.de/10005125687
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Estimating and testing preferences for consumption, work hours and savings using the PSID, the profit function and the true dynamic budget constraint
Chin, William - EconWPA - 2003
profit function rationalizing consumption, labor supply and savings is specified, estimated and used to test commonly … maintained separability hypotheses. Both consumption- labor and time separability are rejected. Cross-price Frisch elasticities … are found not to equal zero and this in turns affects all estimates of consumption, labor supply and saving elasticities. …
Persistent link: https://www.econbiz.de/10005561778
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Consumption Patterns over Pay Periods
Kelly, Clare; Lanot, Gauthier - EconWPA - 2002
periodically but make consumption decisions on a more frequent basis. The model incorporates price uncertainty and imperfect credit … markets. The simulated numerical solution to this model shows that weekly consumption functions are ordered such that the …
Persistent link: https://www.econbiz.de/10005135011
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Distribution of the Economic Gains of the 1990s
Parham, Dean; Barnes, Paula; Roberts, Paul; Kennett, Sharon - EconWPA - 2001
„h Australia¡¦s surge in productivity growth in the 1990s fuelled an acceleration in growth in total income and average income (income per person in Australia). ¡V Annual average income growth accelerated from 1.4 per cent in the 1970s and 1980s to 2.5 per cent in the 1990s. ¡V Faster...
Persistent link: https://www.econbiz.de/10005556030
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ISH: Hacia una Medida de la Satisfacción de los Hogares desde el Punto de Vista de la Oferta de Trabajo.
Marcelo, Darwin; Villa, Juan Miguel - EconWPA - 2004
El estudio de las preferencias es uno de los temas menos tratados por la econometría aplicada. En el presente artículo se pretende realizar una aproximación translogarítimica de las preferencias por medio de la construcción de un Índice de Satisfacción de los Hogares (ISH) con base al...
Persistent link: https://www.econbiz.de/10005076523
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MRS. GANDHI GAVE NEW ECONOMIC APPROACHES
SUBRAMANIAM, DR. VSR. - EconWPA - 2004
Plenty of food, Sufficient clothing, Proper monitoring of the Key Socio- Economic factors, with commitment to Domestic Productivity were the Essence of the Administrative strategy of Mrs. Indira Gandhi (Late Prime Minister of India). These approaches could be critically related to the remarkable...
Persistent link: https://www.econbiz.de/10005076600
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History of consumer demand theory 1871-1971: A Neo-Kantian rational reconstruction
Moscati, Ivan - EconWPA - 2005
This paper examines the history of the neoclassical theory of consumer demand from 1871 to 1971 by bringing into play the knowledge theory of the Marburg School, a Neo-Kantian philosophical movement. The work aims to show the usefulness of a Marburg-inspired epistemology in rationalizing the...
Persistent link: https://www.econbiz.de/10005076653
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Procrastination on Long-Term Projects
O'Donoghue, Ted; Rabin, Matthew - EconWPA - 2003
Previous papers on time-inconsistent procrastination assume projects are completed once begun. We develop a model in which a person chooses whether and when to complete each stage of a long-term project. In addition to procrastination in starting a project, a naive person might undertake costly...
Persistent link: https://www.econbiz.de/10005076661
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Risk Aversion and Expected-Utility Theory: A Calibration Theorem
Rabin, Matthew - EconWPA - 2001
Within the expected-utility framework, the only explanation for risk aversion is that the utility function for wealth is concave: A person has lower marginal utility for additional wealth when she is wealthy than when she is poor. This paper provides a theorem showing that expected-utility...
Persistent link: https://www.econbiz.de/10005076662
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Stochastic demand correspondences and their aggregation properties
Alcantud, J. C. R. - EconWPA - 2003
Bandyopadhyay, Dasgupta and Pattanaik [JET, 2002] have presented a construction that aggregates standard demand functions by a stochastic demand function, in such way that the latter satisfies the weak axiom of stochastic revealed preference when the former fulfil Samuelson's weak axiom of...
Persistent link: https://www.econbiz.de/10005077063