In this paper I study a model of life-cycle consumption in which individuals react optimally to their own income process but ignore economy wide information. Since individual income is less persistent than…
This paper develops a two-industry model ofR&D. A monopolist supplier sells an intermediate good to an oligopolistic buyer industry where firms compete in quantity and quality-enhancing R&D. The supplier can…
This survey aims at providing the reader with a thread through the literature on the topic of panel econometrics of labour supply, reporting also on the evaluation of the data used in these studies, and…
A number of studies have evaluated the social welfare impact of price and income changes using equivalent incomes that are computed at some reference price vector, and an aggregator with these equivalent incomes…
