stochastic simulation of consumption choices in a nonstationarity environment is used to show the robustness of the method for …

This paper revisits the standard model of labor supply under two additional assumptions: consumption requires time and … utility at the optimum and above a critical wage level it converts into a pure consumption good. Their labor-supply curve is …

Consumption expenditure declines sharply at the time of retirement for many households, but the majority maintain a … smooth consumption path. A simple life cycle model with uncertainty about the time of retirement can account for this pattern … consumption expenditure at retirement generated by the model is zero, while the mean is negative, matching the HRS data. However …

seminal study, Lazear (1990) found that contract avoidance of severance pay firing costs was theoretically simple – a bonding …, formal measures of severance-induced firing costs and hiring costs are derived. Firing costs are, it turns out …, systematically less than benefit generosity alone would imply. Moreover their interrelationship with hiring costs, often employed in …

paper, we show that frictions in the labour market leading to monitoring costs tend to reduce the growth of the firm via two …

contracts literature hold up to recent empirical evidence. Guided by theory, we arrange services according to the type and … costs and quality, for services without severe contracting problems. The picture is more mixed for services with tougher …

We develop a standard search-matching model in which mobility costs are so high that it is too costly for workers to … and commuting costs because firms need to compensate the transportation cost difference between the employed and …

) and consumption poverty. Our results show that the two measures assign similar poverty status to about 52 percent of … find that household size matters in consumption poverty while we do not find significant effects on multidimensional … poverty. Amongst the shocks, drought shock is found to affect consumption poverty but not multidimensional poverty. This …