consumption, controlling for demographics, cohort and time effects. In addition to documenting profiles for total and nondurable … consumption, we devote special attention to the age expenditure pattern for consumer durables. We find hump-shaped paths over the … that households do not smooth consumption over their lifetimes. This is especially the case for services from consumer …

cycle, of several dimensions of economic inequality, including wages, labor earnings, income, consumption, and wealth. After … distribution. Consumption inequality increased less than disposable income inequality, and tracked the latter much more closely at …

equilibrium features imperfect insurance and a non-degenerate cross-sectional consumption distribution. When household labor … dynamics induced by unexpected technology shocks, including the evolution of the consumption distribution, in closed form. Thus … which limits to consumption insurance emerge endogenously due to limited commitment …