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This paper combines income and expenditure with time use data to provide a unique picture of the labour supplies, household production, saving and consumption decisions of two-adult households over a life cycle defined in terms of the presence and ages of children. The study also draws on data...
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We develop and estimate a model of dynamic interactions in which commitment is limited and contracts are incomplete to explain the patterns of income and consumption growth in village economies of less developed countries. Households can insure each other through both formal contracts and...
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Commonly employed global tests for separability between production and consumption decisions are theoretically inappropriate when the market failures creating non-separabilities differentially constrain some, but not all households. Simulated maximum likelihood estimates using Chinese panel data...
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market with reinvestment risk, since in this case the total liability cannot easily be separated into hedgeable and non …
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