We consider the link between poverty and subjective well-being, and focus in particular on the role of time. We use panel data on 42,500 individuals living in Germany from 1992 to 2010 to uncover four empirical relationships. First, life satisfaction falls with both the incidence and intensity...

We consider the link between poverty and subjective well-being, and focus in particular on potential adaptation to poverty. We use panel data on almost 45,800 individuals living in Germany from 1992 to 2011 to show first that life satisfaction falls with both the incidence and intensity of...

In this paper, we investigate the effect of a change in childcare subsidies on parental subjective well-being. Starting in 1997, the Canadian province of Québec implemented a generous program providing $5-a-day childcare to children under the age of 5. By 2007, the percentage of children...

In this paper, we investigate the effect of a change in childcare subsidies on parental subjective well-being. Starting in 1997, the Canadian province of Québec implemented a generous program providing $5-a-day childcare to children under the age of 5. By 2007, the percentage of children...

Despite numerous efforts at interpretation and exposition, the standard Real Business Cycle model remains somewhat misterious. Its dynamic porperties are by now familiar, at least to those who made the effort to run simulation by themselves. Many extention of the basic model have been developed,...

The recognition that contracts have a time dimension has given rise to a very abundant literature since the end of the 1980s. In such a dynamic context, the contract may take place over several periods and develop repeated interactions. Then, the principal topics of the analysis are commitment,...

Extreme events are one of the main channels through which climate and socio- economic systems interact and it is likely that climate change will modify their probability distributions. The long-term growth models used in climate change as- sessments, however, cannot capture the effects of such...

We present a model of inductive inference that includes, as special cases, Bayesian reasoning, case-based reasoning, and rulebased reasoning. This uni ed framework allows us to examine how the various modes of inductive inference can be combined and how their relative weights change...