Christelis, Dimitris; Georgarakos, Dimitris; Jappelli, … - C.E.P.R. Discussion Papers - 2014
We use data from the 2009 Internet Survey of the Health and Retirement Study to examine the consumption impact of … wealth shocks and unemployment during the Great Recession in the US. We find that many households experienced large capital … who became unemployed reduced spending by 10 percent. We also distinguish the effect of perceived transitory and permanent …
