This paper analyzes the theoretical and empirical findings for representative and heterogeneous agents for a host of economic issues including market completeness, consumption growth variability, income risk, equilibrium interest rate, and welfare gains from eliminating a Real Business Cycle...

The objective of this paper is to provide a comprehensive analysis that identifies the motivation of people who vote in the 2000 presidential election. We examine the influence that major issues, such as socioeconomic factors, as well as minor or regional issues have had upon registration and...

This paper analyses the differences between food and nondurable consumption data. Due to the lack of annual panel data on households' nondurable consumption, many empirical studies that test for the permanent income hypothesis, consumption insurance hypothesis, or to estimate the elasticity of...

In this paper we examine more closely the factors associated with production inefficiency in China’s agriculture. The approach we take involves a two-stage process where output efficiency scores are first estimated using data envelopment analysis, and then in the second stage, variation in the...

We constructed an ESG investors’ sentiment Index (ESG-ISX) that reflects four key components: (1) governance: gap between women and men in labor participation and pay; (2) sustainability: renewable energy production; (3) environment: global warming index; and (4) ESG google search sentiment....

This paper studies the dynamics of portfolio rebalancing and consumption smoothing in the presence of non-convex portfolio adjustment costs. The goal is to understand a household's response to income and return shocks. The model includes the choice of two assets: one riskless without adjustment...