Urban economics has traditionally viewed cities as having advantages in production and disadvantages in consumption. We … argue that the role of urban density in facilitating consumption is extremely important and understudied. As firms become … more mobile the success of cities hinges more and more on cities' role as centers of consumption. Empirically, we find that …

in risky asset markets, then alternative retirement savings systems may affect household welfare by relaxing these …

Hyperbolic Euler Relation implies that hyperbolic consumers will engage in high interest borrowing even when the consumption path … is downward sloping, will experience predictable sharp drops in consumption, and will fail to exhibit precautionary … savings effects. …

elasticity of substitution in market consumption (IES) and the static elasticity of substitution between home and market … consumption (SES). Understanding this connection is important because there is a large body of empirical evidence suggesting that …

develops a model of optimal consumption and portfolio choice for infinite-lived investors with recursive utility who face …