By using data on self-rated life satisfaction as an empirical indicator of well-being, this paper estimates the valuation of two major air pollutants differentiated by people’s age category (stage in the life cycle) and birth cohort. Life satisfaction regressions involving about 59,000...

This paper investigates the relationship between emissions of carbon dioxide and the ongoing process of demographic transition in OECD countries. Our research is motivated by suggestions in the literature that emission-relevant consumption patterns may depend on the position in the life cycle...

Most industrialized countries will experience a significant aging of their populations in the future. The consequences of this coming population aging for environmental preferences and environmental quality are ambiguous. This paper uses data on life satisfaction to investigate how preferences...

We study the contribution of money to business cycle fluctuations in the US, the UK, Japan, and the Euro area using a small scale structural monetary business cycle model. Constrained likelihood-based estimates of the parameters are provided and time instabilities analyzed. Real balances are...

We study the contribution of the stock of money to the macroeconomic outcomes of the 1990s in Japan using a small-scale structural model. Likelihood-based estimates of the parameters are provided and time stabilities of the structural relationships analyzed. Real balances are statistically...