We construct a synthetic panel of household expenditures from the Consumer Expenditure Survey (CEX) and use the Quadratic Almost Ideal Demand System to estimate expenditure shares and income elasticities of demand that vary by good-income-time. We show that the size and distribution of income...

The income of the self-employed is often assumed to be understated in economic statistics. Controversy exists about the best method for estimating the extent of under-reporting and about the resulting measures of the size of the underground economy. This paper refines a method developed by...

We provide necessary and sufficient conditions such that consumption and asset demands in an incomplete market setting can be rationalized by Kreps-Porteus-Selden preferences and provide a means for recovering the underlying unique representations of risk and time preferences. The incompleteness...

We propose a novel approach to model joint consumption decisions of individuals who care for each other. We assume non-cooperative interaction between the different individuals and the within-group consumption outcome critically depends on the degree of caring between the group members. By...

President Trump broke from decades of Republican support for free trade. Specifically, his brand of economic nationalism encourages US citizens to consume fewer imports and, instead, to "buy American." Surveys show that his rhetoric resonates with voters. But do these attitudes actually affect...

Increased competition for viewers' time is threatening the viability of public-service broadcasters (PSBs) around the world. Changing regulations regarding advertising minutes might increase revenues, but little is known about the structure of advertising demand. To address this problem, we...

We evaluate the income elasticity of the aggregate budget share spent on a sub-group of commodities, in a competitive framework, by a continuum of agents having the same income, but heterogeneous behavior described by an "homothetic preferences scaling factor" having a bounded Pareto...