Mankiw [1982] explores the Permanent Income Hypothesis implication that durable expenditures follow an ARMA(1,1) representation. He finds that durable expenditures are represented by an AR(1) process which implies that the rate of depreciation of durables, under the PIH model, is 100%. This...

This paper studies the effects of subsidies on durable goods markets. In particular, we focus on a recent policy in France in which the governments of Balladur and Juppé subsidized the replacement of old cars with new ones. To study this policy, we construct a dynamic stochastic discrete choice...

This paper studies the effects of subsidies on durable goods markets. In particular, we study a recent policy in France in which the governments of Balladur and Jupp‚ subsidized the replacement of old cars with new ones. To study this policy, we construct a dynamic stochastic discrete choice...

This paper analyzes the career progression of skilled and unskilled workers, with a focus on how careers are affected by economic downturns and whether formal skills, acquired early on, can shield workers from the effect of recessions. Using detailed administrative data for Germany for numerous...

This paper presents an analysis of the welfare consequences of recent increases in food prices in Mexico using micro-level data. We estimate a QUAIDS model of demand for food, using data collected to evaluate the conditional cash transfer program Oportunidades. We show how the poor have been...

[ger] Die Äquivalenzskalen: ein Überblick iiber die Fachliteratur, . von Valérie Lechene.. . Die Modellierung der Auswirkungen des Vorhandenseins von Kindern auf das Wirtschaftsverhalten hat Stoff für eine umfangreiche und umstrittene Iiteratur geliefert. Dies ist darauf zurückzufuhren,...

[spa] Oferta de trabajo de las parejas y fîscalidad, . por Valérie Lechene.. . En este artículo se présenta un modelo de oferta de trabajo simultáneo, en presencia de fiscalidad, estimado a partir de datos franceses. La preferencia de las parejas está representada por una función de...