Journal Article Linear Aggregation in Neoclassical Labour Supply Get access John Muellbauer John Muellbauer Birkbeck College Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 48, Issue 1, January 1981, Pages 21–36, https://doi.org/10.2307/2297118 Published: 01 January 1981 Article history Received: 01 October 1977 Accepted: 01 March 1980 Published: 01 January 1981

Journal Article Aggregation, Income Distribution and Consumer Demand Get access John Muellbauer John Muellbauer Birkbeck College Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 42, Issue 4, October 1975, Pages 525–543, https://doi.org/10.2307/2296792 Published: 01 October 1975

Journal Article Inequality Measures, Prices and Household Composition Get access John Muellbauer John Muellbauer Birkbeck College Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 41, Issue 4, October 1974, Pages 493–504, https://doi.org/10.2307/2296699 Published: 01 October 1974

Given a preference basis for the model, a household's general equivalence scale is seen to be a cost of living index relative to the reference household type defined at constant prices. A maximum likelihood estimation procedure which can be applied both to cross-section data and pooled time-series/cross-sections is derived. The lack of identification of the model is established theoretically and checked empirically on British family expenditure survey data. With prior information, e.g. a nutrition based food scale, identification can be reached but ultimately the model is rendered implausible because of its zero substitution implication and the empirical results bear this out.

[A representative consumer exists if market behavior corresponds to a representative income or utility level which is a function of the income distribution. Necessary and sufficient conditions are given on micro behavior and macro behavior (whether maximizing or not) for a representative consumer to exist. Nonlinear Engel curves and taste differences are permitted. If the representative income level is restricted to be mean income, we obtain the traditional linear Engel curves solution. A striking result on economy of information in the representation of a social welfare function is given.]

The theoretical basis for measuring child costs is discussed, and detailed consideration is given to two straightforward procedures for calculation, Engel's food share method and Rothbarth's adult good method. Each of these methods embodies different definitions of child costs so that the same empirical evidence can generate quite different estimates depending on the method used. It is shown that true costs are generally overstated by Engel's method and understated by Rothbarth's procedure, although the latter, unlike the former, can provide a sensible starting point for cost measurement. Our estimates from Sri Lankan and Indonesian data suggest that children cost their parents about 30-40 percent of what they spend on themselves.

One of the most important current questions in economic analysis is whether or not labor markets clear in the short run. To answer this, it is necessary to be able to distinguish between restricted and unrestricted behavior by consumers supplying labor. This paper investigates the forms of preferences which lie behind linear models of labor supply, and derives the functional forms for commodity demands which accompany them, both with and without quantity restrictions in the labor market. Simple linkages between restricted and unrestricted demands are also considered as is the question of perfect aggregation over consumers in the presence of quantity restrictions.

An unsustainable weakening of credit standards induced a US mortgage lending and housing bubble, whose consumption impact was amplified by innovations altering the collateral role of housing. In countries with more stable credit standards, any overshooting of construction and house prices owed more to traditional housing supply and demand factors. Housing collateral effects on consumption also varied, depending on the liquidity of housing wealth. Lessons for the future include recognizing the importance of financial innovation, regulation, housing policies, and global financial imbalances for fueling credit, construction, house price and consumption cycles that vary across countries.