This article describes the macroeconomic model used in an ongoing study of technology policies and North-South relations. Other aspects of the study have been described elsewhere [1,2]. We examine here the rationale for the theoretical structure used in the model, the details of the equations,...

Although the link between household size and consumption has a strong empirical support, there is no consistent way in which demographics are dealt with in standard life-cycle models. We study the relationship between the predictions of the Single Agent model (the standard in the literature)...

How can public pension systems be reformed to ensure fiscal stability in the face of increasing life expectancy? To address this pressing open question in public finance, we use micro data to estimate a structural life-cycle model of individuals' employment, retirement and consumption decisions....

Having low income is one of the requirements for Medicaid eligibility. Given that earning ability is unobservable, once an individual with high labor income stops working it is impossible to distinguish him from those whose potential labor income is low. This can affect the ability of Medicaid...

In the quantitative macro literature, single agent models are heavily used to explain "per-adult equivalent" household data. In this paper, we study differences between consumption predictions from a single agent model and "adult equivalent" consumption predictions from a model where household...

In the quantitative macroeconomics literature, single agent models are widely used to explain ``per-adult equivalent'' data, which are obtained at the household level. In this paper we suggest a simple framework to understand the sources of bias when these models are used to make predictions for...

The relationship between real interest rates, saving, and gre is a cen tral issue in development economics. Using iflaCrOecOnOFflic data for c cross-section of countries, we estimate a model in %i’hlc/I 1/ic intertemporal elasticity of subsutution varies with the level of wealth. The estimated...

The concept of basic needs is today at the center of many discussions about development and the international order. Some international organizations are rethinking their prior evaluation of development policies based largely on aggregate economic output, in particular, the welfare of the very...

Is household income enough for human development or government should heed to direct provision of social services to improve capabilities of individual. The former emphasized by the World Bank and later by the UNDP. This paper tests the argument by estimating a basic need policy model for...

This paper examines the role of the international market in mediating North-South relations and analyzes how the market works in distributing the gains from trade. It is argued that the international market does not always provide an adequate engine of growth for the South if that region...