equilibrium life-cycle economy with capital in which households include both consumption and leisure in their period utility … equilibrium. Thus inclusion of leisure in household preferences may provide part of the explanation of observed lifecycle …

life-cycle economy with capital in which households include both consumption and leisure in their period utility function … inclusion of leisure in household preferences may provide part of the explanation of observed life-cycle consumption humps …

-persistence of leisure demand. The model establishes a link between the habitual leisure and income effects, which amplifies the … the strength of habit formation. At the same time, the wage elasticity of demand for leisure and the income elasticity of … consumption are shown to be functions of the strength of habit formation. The model concludes that while habitual leisure captures …

such as those around retirement should not affect consumption. However, we first recall that given higher leisure … leisure, and we control for the leisure change in our empirical specifications, using micro data for Germany (SOEP), where …

such as those around retirement should not affect consumption. However, we first recall that given higher leisure … leisure, and we control for the leisure change in our empirical specifications, using micro data for Germany (SOEP), where …

such as those around retirement should not affect consumption. However, we first recall that given higher leisure … leisure, and we control for the leisure change in our empirical specifications, using micro data for Germany (SOEP), where …

(leisure). Our novel design allows to measure whether participants prefer to anticipate or delay gratification, without …-monetary rewards (negative time preferences for leisure). These results cannot be explained by personal timetables and heterogeneous …