This paper examines the life cycle profile of disaggregated nondurable expenditures for Chinese urban households. The result shows that aggregated expenditure conceals substantial heterogeneity in the life-cycle pattern of expenditure subcomponents and underestimates the uninsurable permanent income risk that households face. Based on the observed empirical pattern, I test how much of the adjus...

A theory of government policy determination, based on intertemporal distortion-smoothing and limited commitment, matches the set of stylized facts of U.S. wartime policy.

BACKGROUND The rapid growth of prescription drug expenditures is a major problem in South Korea. Accordingly, the South Korean government introduced a positive listing system in 2006. They also adopted various price reduction policies. Nevertheless, the total expenditure for lipid-lowering drugs have steadily increased throughout South Korea. The present study explores the factors that have inf...

Abstract Indonesia is an archipelago country and fairly vulnerable to disasters. While disasters generally affect government revenue expenditure, their effects likely vary by country. This study examines the effect of on fiscal balance, revenue, expenditure local governments. We used panel data fixed methods estimate degree which disaster severity influences budgetary solvency at district provi...

Consumption Expenditure Of the four components of aggregate demand, consumption expenditure C is the largest contributing to between 60% and 70% of total expenditure. For this reason, we often start our analysis with this particular component. This category of expenditure includes private spending on durable goods (automobiles, electronic goods, appliances, ... ), non-durable goods (food, cloth...