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Life Insurance and Household Consumption

Hong, Jay H.; Ríos-Rull, José-Víctor - In: American Economic Review 102 (2012) 7, pp. 3701-30

Using life insurance holdings by age, sex, and marital status, we infer how individuals value consumption in different demographic stages. We estimate equivalence scales and bequest motives simultaneously within a fully specified model where agents face US demographics and save and purchase life...

Persistent link: https://www.econbiz.de/10011129967

Consumption and Debt Response to Unanticipated Income Shocks: Evidence from a Natural Experiment in Singapore

Agarwal, Sumit; Qian, Wenlan - In: American Economic Review 104 (2014) 12, pp. 4205-30

This paper uses a unique panel dataset of consumer financial transactions to study how consumers respond to an exogenous unanticipated income shock. Consumption rose significantly after the fiscal policy announcement: during the ten subsequent months, for each $1 received, consumers on average...

Persistent link: https://www.econbiz.de/10011093398

The Intergenerational Correlation of Consumption Expenditures

Charles, Kerwin Kofi; Danziger, Sheldon; Li, Geng; … - In: American Economic Review 104 (2014) 5, pp. 136-40

Using data recently collected by the Panel Study of Income Dynamics, we find that the intergenerational correlation in expenditures is no larger than that in income, suggesting limited intra-family risk-sharing. On the other hand, even after controlling for the intergenerational correlation in...

Persistent link: https://www.econbiz.de/10010815499

Consumer Spending and the Economic Stimulus Payments of 2008

Parker, Jonathan A.; Souleles, Nicholas S.; Johnson, … - In: American Economic Review 103 (2013) 6, pp. 2530-53

questions added to the Consumer Expenditure Survey and variation from the randomized timing of disbursement. Households spent 12 …

Persistent link: https://www.econbiz.de/10010815517

Habit Formation in Consumer Preferences: Evidence from Panel Data

Dynan, Karen E. - In: American Economic Review 90 (2000) 3, pp. 391-406

and services consumption created by combining PSID variables with weights estimated from Consumer Expenditure Survey data. …

Persistent link: https://www.econbiz.de/10005571809

Consumption Inequality and Partial Insurance

Blundell, Richard; Pistaferri, Luigi; Preston, Ian - In: American Economic Review 98 (2008) 5, pp. 1887-1921

Panel Study of Income Dynamics using an imputation procedure based on food demand estimates from the Consumer Expenditure …

Persistent link: https://www.econbiz.de/10005820366

The Acceleration of Variety Growth

Bils, Mark; Klenow, Peter J. - In: American Economic Review 91 (2001) 2, pp. 274-280

Persistent link: https://www.econbiz.de/10005563284

Two Perspectives on Preferences and Structural Transformation

Herrendorf, Berthold; Rogerson, Richard; ?kos Valentinyi - In: American Economic Review 103 (2013) 7, pp. 2752-89

postwar United States. We explain two natural approaches to the data: sectors may be categories of final expenditure or value … added; e.g., the service sector may be the final expenditure on services or the value added from service industries. We … estimate preferences for each approach and find that with final expenditure income effects are the dominant force behind …

Persistent link: https://www.econbiz.de/10010815471

Measuring How Fiscal Shocks Affect Durable Spending in Recessions and Expansions

Berger, David; Vavra, Joseph - In: American Economic Review 104 (2014) 5, pp. 112-15

We estimate how durable expenditures respond to government spending shocks at different points in the business cycle using a nonlinear VAR approach that allows for the durable multiplier to vary smoothly with the state of the economy. We find strong evidence that the aggregate durable spending...

Persistent link: https://www.econbiz.de/10010815491

News, Noise, and Fluctuations: An Empirical Exploration

Blanchard, Olivier J.; L'Huillier, Jean-Paul; … - In: American Economic Review 103 (2013) 7, pp. 3045-70

We explore empirically models of aggregate fluctuations in which consumers form anticipations about the future based on noisy sources of information and these anticipations affect output in the short run. Our objective is to separate fluctuations due to changes in fundamentals (news) from those...

Persistent link: https://www.econbiz.de/10010815525