We estimate an empirical model of consumption disasters using a new panel data set on personal consumer expenditure for … consumption of about 30%, but that roughly half of this decline is reversed in a subsequent recovery. Uncertainty about … consumption growth increases dramatically during disasters. Our estimated model generates a sizable equity premium from disaster …

In this paper we first document inequality trends in wages, hours worked, earnings, consumption, and wealth for Germany …, especially after about 1998. Disposable income and consumption, on the other hand, display only a modest increase in inequality … over the same period. These trends occured against the backdrop of lower trend growth of earnings, incomes and consumption …

relative consumption growth and real exchange-rate depreciation across countries. The striking lack of evidence for this link … the consumption/real-exchange-rate anomaly or Backus-Smith puzzle - has prompted research on risk-sharing indicators with …. Independent evidence on the weak link between forecasts for consumption and real interest rates suggests that the presence of …

-maximizing choices of cigarette consumption. We discuss how our market-based approach compares to the health benefits approach and the … consumption by 28 percent. At a discount rate of 3 percent the 1964-present value of the consumer benefits from anti …

people as well as their standard of living. We decompose social welfare growth -- measured in consumption-equivalent (CE …) units -- into contributions from rising population and rising per capita consumption. Because of diminishing marginal … utility from consumption, population growth is scaled up by a value-of-life factor that exceeds one and empirically averages …

bans reduce smoking prevalence by 5 percentage points and average daily consumption among smokers by 10 percent. The impact …