… such incentive-induced variability can account for the variability we … consumption must
depend on his output to get the agent to work, which leaves the agent less than fully insured …

… consumption and leisure vari ability and how variability is affected by changes in the model
parameters. The first subsection simply defines the moments I use to … through the use of com …

… The last part of the paper focuses on incentive issues, looking at … For example, one can
compare the variability of consumption … to include leisure, so that household consumption is then …

… an incentive to search for the best deals and these incentives … on consumption of one-year
wage changes, the variability of … leisure into three components: personal care, active leisure (…

… by nonseparability between consumption and leisure. However… utility function and on the
variability of the idiosyncratic shocks. … , there might be strong incentives for young individuals to …

… of variation of the variance of PSID consumption is on the left-hand side; that of the variance
of CEX consumption … in preferences between consumption and leisure. This implies that all …

… The main items that are missing are clothing, recreation, alcohol, and tobacco.We treat …
We can then identify the variance of productivity shocks and the variance of measurement error …

… without incentive constraints. On the other hand, I show for the standard stylized models of
repeated agency, incentive-induced variability is an insufficient explanation of the variability in …

… This paper analyses the incentives to work and to save over … fall, or if consumption is growing
and consumption and leisure are … of increased variability in leisure leading to leisure being …

… of the household's consumption of goods and leisure, where r vt … -contingent prices of the
good and leisure in period t in history h … We use regression (4) to assess the variation of income …