Micro data over the life cycle shows different patterns of consumption for housing and non-housing goods: the consumption profile of non-housing goods is hump-shaped while the consumption profile for housing first increases monotonically and then flattens out. These patterns hold true at each consumption quartile. This paper develops a quantitative, dynamic general equilibrium model of life-cyc...

the environmental degradation increase during recent years, has proposed the investigation of economic activities and environmental indicators relation. mostly a unidirectional causality from economic activities to pollution is assumed. while the direction of causality between pollution and economic growth has specific policy implications, presumption of this direction may influence the nature ...

Retirement and Consumption in a Life Cycle Model Consumption expenditure declines sharply at the time of retirement for many households, but the majority maintain a smooth consumption path. A simple life cycle model with uncertainty about the time of retirement can account for this pattern. A richer version of the model is calibrated to data from the Health and Retirement Study. The median chan...

Economics and engineering have much in common since both are concerned with making decisions to act, based on evidence from many sources including science. An analysis of financial trading an engineering-systems perspective leads a theory obligations as means capturing natural, social human capital. The treatment is analogy between gravitational electromagnetic fields forces interactions. ‘obli...

The Impact of Alcohol Consumption on Occupational Attainment in England In this study we provide evidence on the effect of alcohol consumption on occupational attainment in England. To do this we use samples of employees from the Health Survey for England between 1992 and 1996. We find that due to the endogenous nature of alcohol consumption, OLS estimates may provide a biased picture of the im...

This paper aims to investigate the role of each aggregate spending component in the monetary policy transmission in Indonesia. It assesses the relative strength of the role of each spending component in the monetary policy transmission. In so doing, this study employs the contribution analysis, which is calculated based on the cumulative impulse response of each component of GDP to a monetary p...

Can consumption externalities be a source of indeterminacy? The answer is negative in conventional wisdom. In this paper we show that consumption externalities establish local indeterminacy if the degree of decreasing impatience is sufficiently large. Dynamic models with indeterminacy are valuable as they tend to explain economic fluctuations without relying on exogenous shocks and question int...

abstract main objective of this paper is the investigation the effect of support policies of government on income risk of poultry producers in iran for the 1989-2006. ccv index was used to investigate amount of variation that cause each support policies (market price support, support of agricultural inputs, outputs insurance) on income risk variation of producers. the results of this study show...

We develop a version of Afriat’s Theorem that is applicable to a variety of choice environments, beyond the setting of classical consumer theory. This allows us to devise tests for rationalizability in the context of choice data on lotteries, contingent consumption, and intertemporal consumption. We also establish a version of Richter’s Theorem that characterizes the strict rationalizability of...

the natural gas consumption in iran has been continuously increasing due to several reasons including low prices of natural gas, development of gas supply networks, people’s salary increase, incorrect consumption culture and the increase of national economy growth.  although, the global natural gas consumption has increased by 38% since 2001, the national consumption in iran has increased by 11...