In recent decades, great changes have taken place in residents’ lifestyle and consumption structure. Urban household consumption plays an increasingly significant role in promoting energy use and related carbon emissions. Communities are regarded as the basic part of city, and also units and...

When households decide on risky asset holdings, they do not make the decision in isolation from their debt structure and obligations, vice versa. We examine the joint behavior of debt and financial asset portfolio decisions, while existing empirical research on debt and asset portfolio choices...

A life-cycle savings model was tested to analyze consumption patterns of elderly U.S. households, using the 1990 and 1991 BLS Interview Survey of Consumer Expenditures. The model implies substantial, planned decreases in consumption after retirement, regardless of income patterns. The empirical...

In this paper, we examine the issue of consumption insurance in the context of urban China, where the wage structure and social security system changed dramatically during the 1990s. Using a national representative household survey from 1992 to 2003, we construct a pseudo panel dataset to study...

We propose a theoretical framework, supplemented by empirical evidence, to study how household financial leverage affects labor skills acquisition and labor supply. Unlike labor income, acquired skills are inseparable from individuals and do not accrue to creditors at default, thus making them...