We study testable implications for the dynamics of consumption and income of models in which first-best allocations are not achieved because of a moral hazard problem with hidden saving.
This Commentary analyses recent trends in household spending, with a focus on domestic fuel and water, and examines the impact of changes in the price of these goods on household inflation.
This paper uses a realistic structural lifecycle model of consumption and housing decisions to understand how data might distinguish different mechanisms that explain the correlation between house prices and consumption.
This paper develops a new technique for the estimation of consumer demand models with unobserved heterogeneity subject to revealed preference inequality restrictions.
Until recently microfinance - the extension of very small loans to those in poverty designed to spur entrepreneurship - was cheered as an excellent policy to alleviate poverty. But more recently such policies have been viewed less favourably. What does the evidence show on the effectiveness of such schemes, and how can they be reformed to operate better?
FINISH - Financial Inclusion Improves Sanitation and Health - is a joint undertaking of a wide range of actors that came together to address the challenges of micro finance, insurance and sanitation and health.
This paper builds a unifying framework based on the theory of intertemporal consumption choices that brings together the limited participation-based explanation of the Consumption Capital Asset Pricing Model's poor empirical performance and the transaction costs-based explanation of incomplete portfolios.
FINISH - Financial Inclusion Improves Sanitation and Health - is a joint undertaking of a wide range of actors that came together to address the challenges of micro finance, insurance and sanitation and health.
In all common models of inter-temporal allocation, the assumption of a constant elasticity of intertemporal substitution (EIS) imposes surprising limitations on within-period budget allocations.
This paper offers an introduction to research using consumption measures derived from Statistics Canada's household expenditures surveys to study material well-being, inequality, and poverty.
