Macroeconomics is evolving from the study of aggregate dynamics to the study of the
dynamics of the entire equilibrium distribution of allocations across individual economic …

The saving patterns of retired US households pose a challenge to the basic life-cycle model
of saving. The observed patterns of out-of-pocket medical expenses, which rise quickly with …

In this survey, we argue that the economic analysis of fertility has entered a new era. First-
generation models of fertility choice were designed to account for two empirical regularities …

Much of macroeconomics is concerned with the allocation of physical capital, human capital,
and labor over time and across people. The decisions on savings, education, and labor …

We discuss the most popular static and dynamic models of household behavior. Our main
objective is to explain which aspects of household decisions different models can account …

This paper provides a critical survey of the large literature on the life cycle model of
consumption, both from an empirical and a theoretical point of view. It discusses several …

I elicit causal effects of spousal observability and communication on financial choices of
married individuals in the Philippines. When choices are private, men put money into their …

Empirical evidence suggests that money in the hands of mothers (as opposed to fathers)
increases expenditures on children. Does this imply that targeting transfers to women …

This paper examines how divorce laws affect couples' intertemporal choices and well-being.
Exploiting panel variation in US laws, I estimate the parameters of a model of household …

We develop a model in which connections between individuals serve as social collateral to
enforce informal insurance payments. We show that:(i) The degree of insurance is governed …