This paper examines the link between income and consumption inequality. We create panel data on consumption for the Panel Study of Income Dynamics using an imputation procedure based on food demand estimates from the Consumer Expenditure Survey. We document a disjuncture between income and...

Despite the increasing consumption of new media, watching television remains the most important leisure activity worldwide. Research on audience reactions has demostrated that there are major contradictions between television consumption and the satisfaction obtained from this activity. Similar...

A continuous-time sequential job search model with savings and CARA preferences is solved analytically without resorting to unlimited borrowing and real-valued consumption. I isolate the effects of limited borrowing and nonnegative consumption as well as risk-aversion on the reservation wage by...

In the early 1980’s Australia had a highly progressive, individual based income tax and families received support for dependent children in the form of universal family allowances. The introduction of income tests for child support payments based on family income (now in the form of Family Tax...

Housing prices in Spain have increased heavily since 1999, increasing household financial effort needed to buy a house. Inflation data, obtained from HIPC (Harmonized Index of Consumer Prices) has reached very low values in this period. HIPC design doesn’t include housing prices and Housing...

We propose an indirect and robust method to detect a change in the concentration of economic affluence defined as an aggregate measure of the command over lifetime resources when the full stream of income receipts along the life cycle is unknown and only consumption surveys are available. The...

Some countries have the resources and capacity to save more than the other countries. This paper analyses the determinants of annual saving. The analysis uses the optimal saving function which is derived from the household inter-temporal utility maximisation. The predictions from the comparative...

In macroeconomics, life-cycle models are typically used to address exclusively life-cycle issues. This paper shows that modeling the life-cycle may be important when addressing public policy issues, in this case the welfare costs of inflation. In the representative agent model, the optimal...

Structural Properties of the demand of a large population introduced by the aggregation process are studied. The idea is to consider assumptions on the distribution of household characteristics rather than focusing on the modelling of individual behavior. By opposite to the existing literature...

This paper deals with the role of bubbles, having the same meaning as Ponzi games, for implementing efficient growth paths in a closed economy overlapping generations model. It is shown that the well-known arbitrage condition for bubbles, namely that they must yield the same return in...