We investigate the relationship between the individual and household indirect utility functions in the context of a … collective household model. Our analysis produces new results that explain how the rule governing the distribution of resources … among household members is related to the measurement of household welfare and intra-household inequality. We show that in a …

This paper examines the welfare cost of rare housing disasters characterized by large drops in house prices. I … construct an overlapping generations general equilibrium model with recursive preferences and housing disaster shocks. The … likelihood and magnitude of housing disasters are inferred from historic housing market experiences in the OECD. The model shows …