uncertainty shocks. Importantly, we find that the responses of the right tail of the consumption distribution, mostly comprising …This paper sheds new light on the interactions between business cycles and the consumption distribution. We use … Consumer Expenditure Survey data and a factor model to characterize the cyclical dynamics of the consumption distribution. We …

model of college major choice, with which we estimate the relative importance of earnings and earnings uncertainty on the …

episodes of increased inflation uncertainty, our results suggest that these contracts are flexible both ex ante and ex post to …