We explore whether a protective role for savings against future financial hardship exists using household level panel data. We jointly model the incidence and extent of financial problems, as well as the likelihood of having secured debt and the amount of monthly secured debt repayments,...

A model of majority rule is developed in which each of a finite number of generations votes on a redistribution of income between itself and the other generations. In voting, each generation expresses tastes for its own income and for the distribution of income across generations. The model is...

Virtual water is the water required to produce food or a commodity, and includes rainwater in addition to irrigation and the water required to grow feed in livestock systems. Measuring virtual water is a useful concept in assessing water management as it permits the comparison of crops and...