are found not to equal zero and this in turns affects all estimates of consumption, labor supply and saving elasticities. … 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 …

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 …

This paper studies a married couple's dynamic investment and consumption choices under the assumption that the couple …

The consumption literature uses adult equivalence scales to measure individual level inequality. This practice imposes … the assumption that there is no within household inequality. In this paper, we show that ignoring consumption inequality … scales underestimates the level of cross sectional consumption inequality by 30%. This result is driven by the fact that …

significant preference for immediate consumption. Resulting estimates of the daily discount rate are inconsistent with any …

We use CEX repeated cross-section data on consumption and income, to evaluate the nature of increased income inequality … for cyclical behavior of consumption risk, casting doubt on Constantinides and Duffie's (1995) explanation for the equity …

This paper empirically examines the life-time joint decision problem of marriage, childbearing, and labor force … the 1993-95 Japanese Panel Surveys of Consumption, the structural estimation result of a dynamic decision model suggests … generally insignificant. Utility gains and losses from marriage are significantly negative if one leaves out financial …

recognition between men and women that provides a microfoundation for the institution of marriage. In the model, men and women … derive utility from consumption and reproductive success, which is a function of the number and quality of own offspring …. As a socially sanctioned commitment device among partners, the institution of marriage reduces this risk by restraining …

This paper is the first of its kind to study utility interdependence in marriage using information on subjective well …

change in asset or portfolio return affects household’s consumption growth, using a sample of households from the Consumer … Expenditure Survey. Since changes in housing return can affect consumption of households over time, we investigate whether the … affects consumption growth, and housing is an important asset to account for in the household portfolio. …