This chapter surveys existing approaches to modeling labor supply and identifies important
gaps in the literature that could be addressed in future research. The discussion begins with …

Dynamic general equilibrium models are required to evaluate policies applied at the
national level. To use these models to make quantitative forecasts requires knowledge of an …

" Now in its fourth edition, this comprehensive introduction to fundamental panel data
methodologies provides insights on what is most essential in panel literature. A capstone to …

W HY DO PEOPLE save? J. Maynard Keynes (1936) lists eight motives which we reproduce
here with one addi-tion: 1 1." To build up a reserve against unforeseen contingencies"(the …

Americans have become considerably more obese over the past 25 years. This increase is
primarily the result of consuming more calories. The increase in food consumption is itself …

Micro data studies of household saving often find a significant group in the population with
virtually no wealth, raising concerns about heterogeneity in motives for saving. In particular …

Laboratory and field studies of time preference find that discount rates are much greater in
the short run than in the long run. Hyperbolic discount functions capture this property. This …

This paper addresses whether households save enough for their retirement. For successive
date-of-birth cohorts we analyze income and expenditure patterns around the time of …

In this paper we show that some of the predictions of models of consumer intertemporal
optimization are in line with the patterns of nondurable expenditure observed in US …

Using household survey data for the US and the UK, we show that the aggregate response
of consumption to interest rate changes is driven by households with a mortgage. Outright …