green investment as the uncertainty of subsidies rises. This effect is identified from weather-driven fluctuations in air … pollution that lead to fluctuations in subsidy allocations: Firms in cities where weather-driven subsidy uncertainty is high … focused on environmental technologies are more affected. The results suggest that policy uncertainty may originate not only …

duration of the disasters. Uncertainty about the persistence of states can lead to seemingly pessimistic behavior in bad times … and optimistic behavior in good times. In a disaster, uncertainty about duration acts as an amplification mechanism …. Agents alter their optimal investment and consumption more intensely relative to the full-information benchmark, and the …

The effects on consumption and retirement of characteristics of the life cycle, especially the length of the horizon …-cycle effects on consumption and retirement are estimated jointly for 1973 and 1975. There is a weak small effect of a more distant … reducing consumption; goods and leisure are consumed jointly, suggesting their complementarity in household production; and …

fully attend to consumption in all periods but fail to attend to some future lumpy expenditure opportunities. This asymmetry … reminders may increase saving, and that reminders will be more effective when they increase the salience of a specific …

, the model cannot account for the low level of consumption (or high saving) as a proportion of income observed in the data …. An examination of provincial level consumption data suggests that the absence of channels for intranational consumption … risk sharing may be an important reason why the business-cycle model has trouble accounting for Chinese consumption and …

help explain the aggregate movements in saving, spending, and debt in 2008. Because the rebate was large and distributed …

We investigate optimal consumption, asset accumulation and portfolio decisions in a realistically calibrated life …