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 …

We propose a new classification of consumption goods into nondurable goods, durable goods and a new class which we call … "memorable" goods. A good is memorable if a consumer can draw current utility from its past consumption experience through memory …. We propose a novel consumption-savings model in which a consumer has a well-defined preference ordering over both …

We propose a new category of consumption goods, memorable goods, that generate a flow of utility after consumption. We … analyze an otherwise standard consumption model that distinguishes memorable goods from other nondurable goods. Consumers … optimally choose lumpy consumption of memorable goods. We empirically document differences between levels and volatilities of …

We propose a new category of consumption goods, memorable goods, that generate a flow of utility after consumption. We … analyze an otherwise standard consumption model that distinguishes memorable goods from other nondurable goods. Consumers … optimally choose lumpy consumption of memorable goods. We then empirically document significant differences between levels and …

We propose a new classification of consumption goods into nondurable goods, durable goods and a new class which we call … “memorable" goods. A good is memorable if a consumer can draw current utility from its past consumption experience through memory …. We propose a novel consumption-savings model in which a consumer has a well-defined preference ordering over both …

We propose a new category of consumption goods, memorable goods, that generate a utility flow even after physical … consumption. Empirically, memorable goods expenditures exhibit frequent zero monthly purchases and lumpy expenditure spikes …. Memorable goods expenditures are 20% the size of nondurable expenditures, but twice as volatile. We then develop a consumption …

We propose a new category of consumption goods, memorable goods, that generate a utility flow even after physical … consumption. Empirically, memorable goods expenditures exhibit frequent zero monthly purchases and lumpy expenditure spikes … consumption‐savings model with borrowing constraints and income risk that formalizes the notion of memorable goods and …

components, modest changes in consumption expenditures, and large changes in wealth. We then split the sample in households which … do not own business or real estate wealth, and households who do. For the first group, we find that consumption responses … income shocks can explain well the consumption and wealth responses, both at short and long horizons. For the second group …

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 …