household size, consumption patterns, and income in the cross section at the end of the 20th century. We then project the model …

We study global properties of the equilibrium set of economies with a continuous consumption space. This framework is …

NKPC. Specifically our model accounts for nominal inertia in both price and wage setting as well for habits in consumption … present in European consumption. Finally we simulate the effects of monetary policy and find that while the magnitude of the …

realizations is front loaded, a closed form aggregate consumption function with CRRA preferences is derived. To have a closed form … life-time wealth and then the optimal consumption path. The derived model captures precautionary saving, which is dependent ….S. consumption data. …

In this paper we examine the link between wage inequality and consumption inequality using a life cycle model that … incorporates household consumption and family labour supply decisions. We derive analytical expressions based on approximations for … the dynamics of consumption, hours, and earnings of two earners in the presence of correlated wage shocks, non …