The paper considers avariety of evidence that casts light on the validity of the life-cycle model of consumer behavior. In the first part of the paper, simple non-parametric tests are used to examine representative agent models of consumption and labor supply. It seems extremely unlikely that...

The classical theory of commodity price determination integrates myopic supply and demand on the one hand with competitive storage (speculation) under rational expectations on the other. Taking into account the fact that inventories mist; be non-negative, this paper derives from the theory...

The authors investigate nutrition and expenditure in rural Maharashtra in India. They estimate that the elasticity of calorie consumption with respect to total expenditure is 0.3-0.5, a range that is in accord with conventional wisdom. The elasticity declines only slowly with levels of living...

This paper presents a new set of integrated poverty and inequality estimates for India and Indian states for 1987-88, 1993-94 and 1999-2000. The poverty estimates are broadly consistent with independent evidence on per-capita expenditure, state domestic product and real agricultural wages. They...

In this paper we analyze the relationship between turnover-driven growth and subjective wellbeing, using cross-sectional MSA level US data. We find that the effect of creative destruction on wellbeing is (i) unambiguously positive if we control for MSA-level unemployment, less so if we do not;...

This paper is concerned with the measurement of the relative poverty of people in different age groups in developing countries. In many instances it is useful to know, for example, whether a higher fraction of children are in poverty than are adults. However, it is difficult to make even simple...

That educational inputs should be important determinants of educational outcomes is a proposition that appeals to common sense, but is nevertheless controversial in the literature both for developed and lessdeveloped countries. Surveys by Hanushek (1986), for developed countries, and (1996), for...

Deaton and Lubotsky (2003) found that the robust positive relationship across American cities between mortality and income inequality became small, insignificant, and/or non-robust once they controlled for the fraction of each city’s population that is black. Ash and Robinson (Ash, M., &...

The great promise of surveys in which people report their own level of life satisfaction is that such surveys might provide a straightforward and easily collected measure of individual or national well-being that aggregates over the various components of well-being, such as economic status,...