P ersonal consumption expenditures grew by almost 2 percent during 1993 in real, per-capita terms. Real disposable income per capita, meanwhile, actually fell slightly. By definition, households draw down their savings when consumption grows faster than income. In fact, the figures for consumption and income just mentioned underlie a decline in the personal savings rate from over 6 percent in t...

This paper analyses a political force that can cause an initial expansion of public spending on higher education and an ensuing decline in subsidies per student: the increase in the number, and thus voting power, of skilled parents. The rise of the skilled class leads to a majority for an initial expansion of public education spending. This expansion further boosts the number of skilled parents...

 Vehicle miles travel per lane mile  Transportation service index  Personal spending on transportation Activity System  Income (GNI/capita)  Education  Life Expectancy Environmental System  Greenhouse gases (CO2)  Air Pollutants (CO, NO2,SO2, PM10, VOC)  Water Pollutants (BOD)  Energy Consumption Estimation of Performance Indices for the Planning of Sustainable Transportation Systems ...

We conduct an incentivized experiment to test whether the willingness to pay is higher for debit cards compared to cash for three consumer products. Our findings support this conjecture also after controlling for cash availability, spending type, price familiarity and consumption habits of the products. The evidence thus suggests that different representations of money matters for consumer beha...

the impact of medical technology on expansion in health care expenses has long been a subject of essential interest, mainly in the context of long-term outcrops of health spending, which must deal with the issue of the applicability of historical trends to future periods. The idea of this paper is to assess an approximate range for the involvement of technological alteration to growth in health...

This paper explores the effects of government consumption spending in a small open economy both under flexible and fixed exchange rate regimes. Varying price elasticity and the variety effect due to firm entry, are introduced to match the empirical evidences on the small open economy. The main mechanism is that firm entry leads to a higher price elasticity (hence variable markup), and increasin...

This study examines the prospective economic effects of a reduction below the current baseline in defense outlays of $100 billion per year over 10 years. Several recent studies have attempted to estimate the supposedly adverse economic and employment effects of reductions in government spending generally, and defense outlays in particular. Such studies have tended to exaggerate the harmful effe...

Despite the widespread use of income as a measure of household welfare, there is much to recommend the use of consumption. Indeed, standard economic arguments suggest that consumption expenditure will better reflect expected lifetime resources and many economists have been unequivocal in advocating its use. Slesnick (1993), for example, suggests that ‘From a theoretical perspective it is more a...