an explicit role for unemployment and for household debt. We find that the model is capable of explaining several …This paper examines the relationship between household balance sheets, consumer purchases, and expectations. We find … few robust empirical relationships between balance sheet measures and spending, but we do find that unemployment …

an explicit role for unemployment and for household debt. We find that the model is capable of explaining several …This paper examines the relationship between household balance sheets, consumer purchases, and expectations. We find … few robust empirical relationships between balance sheet measures and spending, but we do find that unemployment …

Using micro-level data, we document a systematic, income-related component in household income forecast errors. We show …

This paper examines trends in household consumption and saving behaviour in each of the last three recessions in the UK …