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Wage Risk and Employment Risk Over the Life Cycle

Low, Hamish; Meghir, Costas; Pistaferri, Luigi - C.E.P.R. Discussion Papers - 2007

unemployment insurance which provides (partial) insurance against employment risk and no insurance against persistent shocks. …

Persistent link: https://www.econbiz.de/10005123649

Income and Consumption Smoothing Among US States: Regions or Clubs?

Sørensen, Bent E; Yosha, Oved - C.E.P.R. Discussion Papers - 1997

We measure the amount of income insurance and cross-sectional consumption smoothing (lending and borrowing) achieved within subgroups of states, such as regions or clubs, e.g. the club of rich states. We find that there is as much income insurance between, as well as within, regions. By...

Persistent link: https://www.econbiz.de/10005504778

The Time-Series Properties of Aggregate Consumption: Implications for the Costs of Fluctuations

Reis, Ricardo - C.E.P.R. Discussion Papers - 2005

uncertainty, through its impact on precautionary savings and investment. The two approaches lead to costs of fluctuations that are …

Persistent link: https://www.econbiz.de/10005136677

Looking Into The Black Box: A Survey Of The Matching Function

Petrongolo, Barbara; Pissarides, Christopher - C.E.P.R. Discussion Papers - 2000

unemployment has been successfully estimated for several countries. The Cobb-Douglas restrictions with constant returns to scale …

Persistent link: https://www.econbiz.de/10005114438

Unemployment and Consumption: Are Job Losses Less Painful near the Mediterranean?

Bentolila, Samuel; Ichino, Andrea - C.E.P.R. Discussion Papers - 2000

In this paper we analyse the relationship between unemployment and consumption. We study this relationship with panel … empirical results indicate that an increase in the duration of unemployment spells of male household heads is associated with … Mediterranean, provide a fundamental source of insurance against unemployment in southern Europe. …

Persistent link: https://www.econbiz.de/10005791504

Financial Literacy and Savings Account Returns

Deuflhard, Florian; Georgarakos, Dimitris; Inderst, Roman - C.E.P.R. Discussion Papers - 2014

Savings accounts are owned by most households, but little is known about the performance of households’ investments. We … create a unique dataset by matching information on individual savings accounts from the DNB Household Survey with market data …

Persistent link: https://www.econbiz.de/10011083539

The Household Effects of Government Spending

Giavazzi, Francesco; McMahon, Michael - C.E.P.R. Discussion Papers - 2012

This paper provides new evidence on the effects of fiscal policy by studying, using household-level data, how households respond to shifts in government spending. Our identification strategy allows us to control for time-specific aggregate effects, such as the stance of monetary policy or the...

Persistent link: https://www.econbiz.de/10011083759

A Tear in the Iron Curtain: The Impact of Western Television on Consumption Behavior

Bursztyn, Leonardo; Cantoni, Davide - C.E.P.R. Discussion Papers - 2012

This paper examines the impact of exposure to foreign media on the economic behavior of agents in a totalitarian regime. We study private consumption choices focusing on former East Germany, where differential access to Western television was determined by geographic features. Using data...

Persistent link: https://www.econbiz.de/10011084275

Durable Goods, Borrowing Constraints and Consumption Insurance

Cerletti, Enzo; Pijoan-Mas, Josep - C.E.P.R. Discussion Papers - 2012

In this paper we study the transmission of income shocks into nondurable consumption in the presence of durable goods. We use a standard a life-cycle model with two goods to characterize the interaction of durability of goods, durability of shocks, and borrowing constraints as determinants of...

Persistent link: https://www.econbiz.de/10011084596

Business Cycle Fluctuations and the Distribution of Consumption

De Giorgi, Giacomo; Gambetti, Luca - C.E.P.R. Discussion Papers - 2014

This paper sheds new light on the interactions between business cycles and the consumption distribution. We use CEX consumption data and a factor model to characterize the cyclical dynamics of the consumption distribution. We first establish that our approach is able to closely match business...

Persistent link: https://www.econbiz.de/10011145411