We show that as household size increases, households substitute away from prepared foods and towards ingredients. They also devote more time to food preparation. These observations (1) are consistent with a simple model with home production, returns to scale in the time input to food...

This paper focuses on the issue of limited financial market participation and determines a lower bound on the level of fixed transaction costs that are required to reconcile observed portfolio choices with asset returns within an isoelastic utility framework. The bound is determined from the set...

The consumption literature uses adult equivalence scales to measure individual level inequality. This practice imposes the assumption that there is no within household inequality. In this paper, we show that ignoring consumption inequality within households produces misleading estimates of...

We study the determinants of households' choices of lighting fuels in Kenya, including the option of using solar home systems (SHSs). The paper adds new evidence on the factors that influence the introduction and adoption of decentralized and less carbon-intensive energy sources in developing...

Since 2002 the German government seeks to stimulate private retirement savings by means of special allowances and tax exemptions - the so-called Riester scheme. We apply matching and panel regression techniques to assess the impact of the Riester scheme on households' propensities to save in a...

We investigate, using the 2002 US Health and Retirement Study, the factors influencing individuals' insecurity and expectations about terrorism, and study the effects these last have on households' portfolio choices and spending patterns. We find that females, the religiously devout, those...

In this paper we analyse whether the recording behaviour of consumers keeping a payment diary changes over the diary period. Using data from a large study on the payment behaviour of German consumers we find that individuals tend to report a higher number of transactions on the first day of the...

Legalization of abortion in the 1970s represents a major cultural change: it gives women a higher degree of freedom to directly control their fertility, allowing them to ultimately decide upon children without man's consent and to decrease uncertainty in their expected labor market returns. This...

Most measures of vulnerability are a-theoretic and essentially static. In this paper we use a stochastic Ramsey model to find a household's optimal welfare and we measure vulnerability as the shortfall from the welfare attained if the household consumed permanently at the poverty line. The...