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Development Discussion Paper
Consumption Smoothing and the Welfare Cost of Uncertainty
Yonas Alem and Jonathan Colmer
When agents are unable to smooth consumption and have distorted beliefs about the likelihood of future income realisations, uncertainty about future states of the world has a direct effect on individual welfare. However,...Read more...
1 August 2015
Public Economics Programme Discussion Paper
The Optimal Timing of Unemployment Benefits: Theory and Evidence from Sweden
Jonas Kolsrud, Camille Landais, Peter Nilsson and Johannes Spinnewijn
This paper provides a simple, yet general framework to analyze the optimal time profile of benefits during the unemployment spell. We derive simple sufficient-statistics formulae capturing the insurance value and incenti...Read more...
3 July 2015
What Gives? Household Consumption Patterns and the 'Big Trade Off' with Public Consumption
Francesca Bastagli and John Hills
At the centre of politics in Britain and other countries is what is sometimes called 'the big trade-off'- where to strike the balance between private consumption and collective goods and social spending – and hence the s...Read more...
1 March 2013
The Effect of Health on Consumption Decisions in Later Life: Evidence from the UK
The analysis in this paper focuses on the impact of health on the savings and consumption decisions of the elderly. In principle, there are at least five alternative channels through which health may affect consumption a...Read more...
Freedom to be a Child: Commercial Pressures on Children
Children’s lives have been transformed over the past century. Family incomes have increased, children lead more solitary lives, attitudes to childhood have changed, new products have been developed and commercial pressur...Read more...
Early Health Related Behaviours and their Impact on Later Life Chances: Evidence from the US (OUT (publ. in Health Economics, 7(5), 1998)
Simon Burgess and Carol Propper
This paper uses evidence from the US to examine the impact of adolescent illegal consumption and violent behaviour on later life chances. Specifically, we look at the effect of such behaviour by young men in late adolsce...Read more...
Theoretical Economics Paper
The Optimal Consumption Function in a Brownian Model of Accumulation Part A: The Consumption Function as Solution of a Boundary Value Problem
We consider a neo-classical model of optimal economic growth with c.r.r.a. utility in which the traditional deterministic trends representing population growth, technological progress, depreciation and impatience are rep...Read more...