consumption smoothing across generations within a family. We also find that the correlation coefficients estimated using food and …

Using life insurance holdings by age, sex, and marital status, we infer how individuals value consumption in different …

exogenous unanticipated income shock. Consumption rose significantly after the fiscal policy announcement: during the ten … liquid assets or with low credit card limit experienced stronger consumption responses. (JEL D12, D14, E21) …

This paper examines the link between income and consumption inequality. We create panel data on consumption for the … Survey. We document a disjuncture between income and consumption inequality over the 1980s and show that it can be explained …

condition relating the strength of habits to the evolution of consumption over time. When the condition is estimated with food … consumption data from the Panel Study on Income Dynamics (PSID), the results yield no evidence of habit formation at the annual … and services consumption created by combining PSID variables with weights estimated from Consumer Expenditure Survey data. …

in recessions to keep consumption up. Thus, models with catching-up-with-the-Joneses utility functions call for …

prevailing economic conditions. We use the model of Kaplan and Violante (2013) to compare the consumption response to these … policies. Consistent with empirical evidence from microdata, we find that the consumption response was around one-third lower …