We study consumption and welfare inequality by analyzing how households allocate resources - market expenditures and the value of time - to the production of activities. The share of resources allocated to an activity rises or falls with wages, classifying them into luxuries or necessities,...

Using microdata from 17 OECD countries, this paper documents a negative cross-country correlation between gender gaps in market hours and wages. We find that the cross-country differences in market hours are mostly accounted for by female market hours and the size of the sector that produces...

We study consumption and welfare inequality by analyzing how households allocate resources—market expenditures and the value of time—to the production of activities. The share of resources allocated to an activity rises or falls with wages, classifying them into luxuries or necessities,...

Households enjoy utility from activities that require a combination of time and goods. We classify activities into two types: luxuries and necessities. Luxuries (necessities) are activities for which time and expenditure shares rise (decline) with income. We develop and estimate a model with...

We document large differences between the United States and France in allocations of consumption expenditures and time by age. Using a life-cycle model, we quantify to what extent tax and transfer programs and market and home productivity can account for the differences. We find that while labor...

This paper investigates the US housing market from just before the Great Recession onward (2006–19) and assesses the viability of stock-flow matching in generating the observed outcomes. The paper documents that the probability that a house sells declines sharply after listing for two weeks....