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 …

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 … estimate the prices of aggregate risk. We use the estimated risk prices to compute the no-arbitrage price of a claim to …

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

The composition, wealth and employment of male veterans and nonveterans are analyzed for four cohorts from the Health … observable characteristics, for the original 1992 HRS cohort the wealth of veterans is no longer higher than the wealth of … nonveterans. In contrast, the wealth of veterans from the youngest cohort, those 51 to 56 in 2010, remains about 10 to 13 percent …

poverty, examining alternative income poverty and consumption poverty, which have conceptual and empirical advantages as … measures of the well-being of the poor. We find that both income and consumption poverty are sensitive to macroeconomic … of 0.9 to 1.1 percentage points in the long-run, and an increase in the consumption poverty rate of 0.3 to 1.2 percentage …

different income and consumption measures of poverty, and consider explanations for the differences in trends. We document sharp … differences, particularly in recent years, between different income poverty measures, and between income and consumption poverty … and transfers has a substantial effect on poverty rate changes over the past two decades. Furthermore, consumption poverty …