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We propose a new theory of the demographic transition based on the evidence that body development during childhood is an important predictor of adult life expectancy. Fertility, childhood development, longevity, education and income growth all result from individual decisions. Parents face a...
Persistent link: https://www.econbiz.de/10005124210
We study the formation of human capital and its transmission across generations when a society is assailed by an epidemic disease such as AIDS. We establish that the disease can severely retard economic growth, even to the point of leading to an economic collapse. We also show that the epidemic...
Persistent link: https://www.econbiz.de/10005656313
We present identification and estimation results for the 'collective' model of labour supply in which there are …
Persistent link: https://www.econbiz.de/10005504396
Using a unique panel data set from a UK credit card company, we analyze the interest rate sensitivity of subprime credit card borrowers. In addition to all individual transactions and loan terms, we also have access to details of a randomized interest rate experiment conducted by the lender on...
Persistent link: https://www.econbiz.de/10011083560
and hence more people learn about the product. On the other hand, lower prices may serve as price anchors and, through a … for sale at market prices. In line with prior studies, when the product has potential for positive learning, we do not … evidence of price anchors: future demand is lower after a free distribution than after a distribution at market prices. …
Persistent link: https://www.econbiz.de/10011083717
Employing a variant of GARP, we study consistency in aging by comparing the choices of younger adults (YA) and older adults (OA) in a 'simple', two-good and a `complex' three-good condition. We find that OA perform worse than YA in the complex condition but similar in the simple condition....
Persistent link: https://www.econbiz.de/10011186610
It is unlikely that husbands and wives always agree on exactly what public goods to buy. Nor do they necessarily agree on how many hours to work with obvious consequences for the household budget. We therefore model consumption and labor supply behavior of a couple in a non-cooperative setting...
Persistent link: https://www.econbiz.de/10005039583
We study infrequent durables stock adjustment by consumers who also derive utility from non-durable consumption flows, in the presence of idiosyncratic income uncertainty. We first characterize how the extent of uncertainty bears theoretically on the cross-sectional distribution of the...
Persistent link: https://www.econbiz.de/10005114208
) mortality later in life. In addition, we examine to what extent these long-run effects run by way of cognitive ability and … (across the full range) and CV mortality rate later in life is significantly stronger if the individual is born in a recession …
Persistent link: https://www.econbiz.de/10011084641
Over the Great Recession real wages stagnated and unemployment increased. Concurrently, food prices rose sharply …
Persistent link: https://www.econbiz.de/10011083730