function change. Increasing prudence alone will induce higher savings only if, for certain combinations of the interest rate …

In this paper we analyze the relationship between unemployment and consumption. We study this relationship with panel … smaller consumption losses in Spanish and Italian households. We discuss this finding in the light of different market and … that credit and insurance markets are also more developed in the North than in the South, existing theories of consumption …

have heterogeneous social attitudes towards the consumption by others. Deriving product demand from primitives, we show …

indifference curves should designate a reference point at the current level of consumption. Such indifference maps are kinked at … the current level of consumption. The kinks in the curves imply that the utility function is not differentiable everywhere … bring about changes in consumption which may be the reason for the frequent stickiness of prices, wages and interest rates …