importance of incomplete markets when risk-averse agents are subject to idiosyncratic employment shocks. A version of the model …

In the growth literature, evidence on income convergence is mixed. In the development literature, health and education …

standard CPI and a democratically weighed index (i.e., the plutocratic bias) as the product of average income, income … inequality, and the covariance between individual price indexes and a parameter related to each good's income elasticity. This …

inflows of external income?the sum of remittances, FDI and general government transfers?from major oil-exporting economies … that real output in the long run is shaped by: (i) oil prices through their impact on external income and in turn on … the hypothesis that a large share of Jordan's output volatility can be associated with fluctuations in net income received …

a fall in their asset income by saving more out of their labor income, dollar-for-dollar. In the wake of the crisis, our …

larger has been the role of the declining share of household income in national income, which has occurred across …-the-board in wages, investment income, and government transfers. The paper finds that financial sector weaknesses, by restricting … income shares low and on a declining trend. …

€˜buffer stock’ model of optimal consumption in the presence of labor income uncertainty and credit constraints. Saving in the model …