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Separating the effects of uncertainty from realised events, and identifying the welfare effects of uncertainty, present a number of empirical challenges. Combining individuallevel panel data from rural Ethiopia with high-resolution meteorological data, we introduce a new proxy for income...
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. Hence, household consumption is not only determined by habit persistence but also by interpersonal comparisons. Most …
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We set up and solve a rich life-cycle model of household decisions involving consumption of both perishable goods and …
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