Estimation and measurement of consumption externalities are still challenging problems in applied research. In this … equilibrium consumption externalities in petrol budget shares of households living in a metropolitan area in UK. The reaction … paper, externalities as Nash equilibrium are estimated using consumer demand theory and a large data set. We estimate Nash …

We study socially vs. individually optimal lifecycle allocations of consumption and health care, when individual health …

predictability regressions, and the second moments of output, consumption, and investment. The model also endogenizes a key mechanism … of consumption-based asset pricing models. In order to address the Shiller volatility puzzle, external habit, long …, this countercyclical volatility arises endogenously. Production makes precautionary savings effects show up in consumption …