This paper presents a closed form consumption function for an individual when he derives utility from both his current … and previous consumption and from the consumption of his relevant others. I show that the traditional definition of an … of the MPC that I coin as the individual's total MPC, which also takes into account the consumption change of the …

This paper extends the theory of open economy consumption behavior by applying Flavin's (1993) excess sensitivity …

suggests that conventional measures of genuine saving (which do not reflect conspicuous consumption) are likely to largely …Much evidence suggests that people are concerned with their relative consumption, i.e., their consumption in relation … to the consumption of others. Yet, the social costs of conspicuous consumption have so far played little (or no) role in …

In this paper we analyze how the optimal consumption, investment and life insur- ance rules are modified by the …

consumption and individuals are time-consistent, the socially optimal environmental tax is shown to be equal to the conventional …