factors behind the U.S. credit crisis. We show that a boom-bust cycle in debt, asset prices and consumption characterizes the …

of an agent's level of consumption depends on his legal income and initial level of wealth, as conspicuous consumption by … consumption monitoring and wealth is observed, the effect of higher wealth on equilibrium bribes is ambiguous (and that the …There are a large number of cases where corruption has been discovered investigating levels of consumption that appear …

is no pure wealth effect on consumption from a change in house prices if this represents a change in fundamental value …. There is a pure wealth effect on consumption from a change in house prices if this reflects a change in the speculative …A fall in house prices due to a change in fundamental value redistributes wealth from those long housing (for whom the …

We estimate how the marginal utility of consumption varies with health. To do so, we develop a simple model in which … the impact of health on the marginal utility of consumption can be estimated from data on permanent income, health, and … proxy for utility with measures of subjective well-being. We find robust evidence that the marginal utility of consumption …

aggregate consumption. The price-dividend ratio of this claim is the wealth-consumption ratio. Our estimates indicate that total … wealth is much safer than stock market wealth. The consumption risk premium is only 2.2 percent, substantially below the … equity risk premium of 6.9 percent. As a result, the average US household has more wealth than one might think; most of it is …

pharmaceutical products are beneficial, they will attract greater consumption and promote better health, e.g. greater longevity. We … ask how market size measured by condition prevalence affects consumption and longevity. We document in condition cross … sections that both the tendency to use a drug and longevity are higher for individuals with more prevalent conditions. We also …

This note develops a framework for thinking about the following question: What is the maximum amount of consumption … from the Imperial College London study, our answer is 41% of one year's consumption. If the mortality rate instead averages …

cycle consumption in a general equilibrium overlapping generations model in which markets are otherwise complete. Empirical … studies find that consumption tends to rise early in life, peak around age 45-55, and to decline after that. Our calibrated … model exhibits life cycle consumption that is consistent with this pattern. This follows from the fact that, due to a lack …

Organization substantially overstate the appropriate level of consumption of these medications. Patients who don't adhere to …