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…
Dieser Aufsatz beschreibt neuere Entwicklungen in der Aggregationstheorie sowie ausgewählte empirische Arbeiten. Diese stellen exemplarisch dar, wie die Mikroökonometrie eingesetzt werden kann, um…
The statistical analysis of short-run exchange-rate data shows that there is strong heteroskedasticity and serial dependence of volatility. In addition, the empirical distributions are leptokurtic. The model of…
This paper examines the labour supply behaviour of married women in France. Estimating a model with tax parameter variation, careful re-examination of the treatment of the unearned income variable and taking…
The problem of computing an equilibrium in an economy with constant returns to scale production technologies is to find prices and activity levels such that no activity makes positive profits and the market…
The material balance equation in a dynamic input-output model incorporating capital hinges very much on its assumption one makes with respect to the kind of capital. In this paper, we mention two different…