We examine aggregation in the neoclassical growth model with aggregate shocks and uninsurable employment risk, as well … auctioneer allows us to study each problem in isolation as well as to discuss the intersection. On the household side, we … (1997) and Aiyagari (1994) offers a paper-and-pencil analysis of aggregation that provides a bound on more complex …

This chapter covers recent solutions to aggregation problems in three application areas: consumer demand analysis …

, aggregation can be rejected if appropriate data violate an affine equation regarding how much individuals benefit from within-household …-wide preference parameters, which are useful for policy evaluation. The underlying demand-aggregation properties that this approach … requires, should be easy to empirically disprove: since household-consumption choices differ for households with more members …

expenditure of a heterogeneous population. The starting point of our aggregation analysis is a dynamic behavioral relation on the … household level. Based on certain hypotheses on the evolution of the distribution of income and household characteristics we … explanatory variables on the household level. It is shown that U.K. Family Expenditure Data support our theoretical model for …

hypothesis and debt-finance for understanding household consumption behavior. It is shown that particular importance attaches to …