-
作者：GLOMM, G; PALUMBO, MG
作者单位：University of Houston System; University of Houston; University of Virginia
摘要：This paper studies consumption and saving decisions over time in a life cycle model in which survival from one period to the next is endogenous. Survival probabilities depend on health, which is a capital stock subject to depreciation and which can be augmented by consumption (nutrition). Borrowing is ruled out in our model and we investigate optimal consumption decisions when income fluctuates at seasonal frequencies and when income follows a stochastic process. Among other results, we show t...
-
作者：GHOSE, D; KHARAS, H
作者单位：The World Bank
摘要：Most measures of the real effective exchange rate (REER) do not capture the complex ways in which the structure and direction of trade adapt to changes in exchange rates. Conventional measures of the REER are based on the stringent assumptions that cross price elasticities with respect to exports of third party competitors are all zero and with respect to trading partners they are all equal. This paper develops an alternative index of competitiveness that captures the effects of a whole set of...
-
作者：KAKWANI, N
摘要：Our ultimate objective is to enhance the standard of living of our societies. But the standard of living has different meanings for different people. A thorough investigation of the concept of the standard of living has been made only recently by Sen, who defines it in terms of functioning and capabilities. Functioning is an achievement, whereas capability is the ability to achieve. The main objective of the present paper is to compare achievements (levels) and improvement (changes) in the sta...
