This paper presents a model of consumption and household production that takes into account substitution between health … related to marriage markets that could help explain consumption, including demand for medical care and good nutrition. These …

consumption-saving behavior. We construct a novel consumption-saving model where the household must infer the persistent component … marginal propensity to consume because the short run covariance between income growth and consumption growth increases when … can be identified from panel data on income and consumption. Finally, we estimate a high degree of knowledge in the Panel …

In a model of rational agent choice, in which agents value consumption and leisure as well as health, we establish that … (benefit) of achieving health. Observed positive trends in adult weight, brought on by higher levels of consumption and lower … individuals, unconstrained by concerns of income or time, can and will choose levels of consumption and leisure that exceed their …

We propose a novel structural method to empirically identify economies of scale in household consumption. We assume … collective households with consumption technologies that define the public and private nature of expenditures through Barten … scales. Our method recovers the technology by solely exploiting preference information revealed by households' consumption …

This paper studies consumption and labor supply in a model where agents have partial insurance and face risk and … consumption are solved for analytically. We prove that all parameters of the structural model are identified given panel data on … wages and hours, and cross-sectional data on consumption. The model is estimated on US data. Second moments involving hours …

We show that the optimal consumption of an individual over the life cycle can have the hump shape (inverted U …, an impatient individual would prefer a decreasing consumption path over life. However, because of habit formation, a high … initial consumption would lead to high required consumption in the future. To cover the future required consumption, wealth is …

preferences and in the determination of optimal consumption and optimal bequests. We show how the consumption paths of dynasties … ; dynasties ; evolution of consumption ; evolution of bequests …