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 …

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. …

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 … weekly expenditure data from the FES we estimate the coefficient of relative risk aversion (point estimates are between 2 and …

study the impact of risk and the public sector on consumption-wealth ratio, growth and welfare, given the exogenous size of … parameters, risk specially, on the optimal size. Then we establish that a higher weight of public consumption in the utility …This paper analyzes the influence of risk and the expenditure policy of the public sector in a two-country stochastic …

This paper analyzes the expenditure policy of the public sector and risk in a two-country stochastic AK growth model …. Then we study the impact of changes in exogenous variables on consumption, growth, and welfare. Next, we show that … consumption-wealth ratio and welfare should be higher in an open economy than in a closed economy. We discuss whether open …

infringements. It gives promises for both solving fundamental problems of economic theory and creation of new directions and fields …

Institutions can affect individual behavior both via their efficiency impact and via their risk reducing mechanisms … simultaneously extant institutions. This paper presents a simple model of institutional choice in a labor market when there is a risk …/reward trade-off, and tests the predictions of the theory. Using a novel empirical approach that adapts an ARCH-in-mean to cross …

NEED TO RECONSIDER OUR ACTIONS/DECISIONS WITH RISK AND TROUBLES, SO 'TRUSTING' IS GOING TO HAVE AN IMPORTANT ROLE AS … AND WE WONT TO AVOID THE RISK OF BEING DECEIVED. THESE SOCIAL INTERACTIONS ARE PRECONDITIONS THAT HAVE MANY CONSEQUENCES …

This paper documents that region-level consumption exhibits excess sensitivity to lagged income in Italy, Japan, Spain …, the United Kingdom and West Germany. However, region-specific idiosyncratic) consumption exhibits substantially less …

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. …