This paper studies the empirical relationship between consumption and saving under two different sources of uncertainty …

This chapter reviews empirical estimates of differential income and consumption growth across individuals during … recessions. Most existing studies examine the variation in income and consumption growth across individuals by sorting on ex ante … or contemporaneous income or consumption levels. We build on this literature by showing that differential shocks to …

The last 15 years has brought forth an explosion of research on consumption-based asset pricing as a leading contender … for explaining aggregate stock market behavior. This research has propelled further interest in consumption-based asset … consumption-based asset pricing theories using formal estimation, hypothesis testing, and model comparison. In addition to …

The combination of credit constraints and indivisible consumption goods may induce some riskaverse individuals to play … convexify their budget set. -- Gambling ; Lotteries ; Consumption ; Durables …

general panel date on total consumption from the intertemporal budget constraint. The distribution of consumption levels is … shown to closely match that estimated using the UK's household budget survey. Consumption transitions over time are then …

measures of inequality, by extending the analysis from income to consumption and saving, and by providing results that are …

This paper provides an overview of the work of the Expert Group on the Joint Distribution of Income, Consumption and …, consumption and wealth estimates, assesses their quality, and presents selected experimental results. Although the analysis … reveals large differences between countries, a number of general patterns emerge. First, income, consumption and wealth are …