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An optimal life insurance policy in the investment-consumption problem in an incomplete market
life insurance policy the investment-consumption problem incomplete market
2010/12/13
This paper considers an optimal life insurance for a householder subject to mortality risk. The household receives a wage income continuously, which is terminated by unexpected (premature) loss of ear...
Decision-making process of households on food consumption
fundamental uncertainty incomplete information optimization rules of thumb
2014/3/20
Decision-making process of households on food consumption is discussed in the post-Keynesian theory of household choice. Since the core assumption of uncertainty is employed, the set of consumption al...
Analysis of changes in meat and meat products consumption in the Czech Republic in the past ten years
meat and meat products consumption consumer factors behind consumption change purchasing behaviour consumer behaviour
2014/3/20
In the past ten years, meat and meat products consumption has changed dramatically. It has been caused by price and non-price factors. This article gives a brief recapitulation of the development of t...
Franco Modigliani and the Life Cycle Theory of Consumption
Franco Modigliani Life Cycle Theory Consumption
2014/3/17
In the early 1950s, Franco Modigliani and his student Richard Brumberg worked out a theory of spending based on the idea that people make intelligent choices about how much they want to spend at each ...
Previous authors have documented a dramatic decline in food expenditures at the time of retirement. We show that this is matched by an equally dramatic rise in time spent shopping for and preparing me...
Household Surveys, Consumption, and the Measurement of Poverty
Household surveys consumption poverty
2014/3/17
Household surveys are playing an increasingly important role in the measurement of poverty and well-being around the world. The Living Standards Measurement
Study, which was begun in the World Bank u...
Household Balance Sheets, Consumption, and the Economic Slump
Great Recession Aggregate Demand Consumption Household Leverage Household Debt Marginal Propensity to Consume, Deleveraging
2014/3/19
We investigate the consumption consequences of the 2006 to 2009 housing collapse using the highly unequal geographic distribution of wealth losses across the United States. We estimate a large elastic...
Standard methods of poverty measurement assume that an individual is poor if he or she lives in a family whose income or consumption lies below an appropriate poverty line. Such methods can provide on...
Guidelines for Constructing Consumption Aggregates For Welfare Analysis
Guidelines Constructing Consumption Aggregates Welfare Analysis
2014/3/18
We would like to acknowledge the invaluable assistance provided by Ludovico Carraro in analyzing the data sets from the country case studies reviewed in this paper, and in documenting the programs inc...