This paper studies the consumption decisions of agents who face costs of acquiring, absorbing and processing … consumption plans. In between updating dates, they remain inattentive. This behaviour implies that news disperses slowly … throughout the population, so events have a gradual and delayed effect on aggregate consumption. The model predicts that …

We show that the hedging benefit of owning a home reduces the variability of housing consumption after a move. When a … consumption by about 11%. Households at the top end of the covariance distribution who are likely to have owned large homes before …

stochastic pollution tax, which is uncorrelated with the technological uncertainty of pollution, is compared with a pure … uncertainty associated with pollution leads to an increase in abatement activities and therefore supports the corresponding …

environmental preferences and uncertainty on optimal financing is ambiguous. …

ascribed to the specific int eraction of consumption and portfolio choice in the determination of growth and welfare. …

In this paper the impacts of income and consumption taxes are analyzed within a model of stochastic endogenous growth … with congestion. It is shown that the optimal amount of governmental input diminishes with uncertainty and that the optimal …

consumption choice as well as on economic growth is ambiguous as it affects the mean as well as the variance of disposable income …