lower, when compared to Spain. This suggests that the hardship of being unemployed is higher in Portugal. Unemployment …, can explain this disparity. In this chapter we present some estimates of the loss of consumption suffered by unemployed …In Portugal real wage flexibility, at the macroeconomic level, is noticeably higher, while unemployment duration is …

In this paper we analyse the relationship between unemployment and consumption. We study this relationship with panel … indicate that in the South consumption should fall more than in the North when the male household head becomes unemployed. This … empirical results indicate that an increase in the duration of unemployment spells of male household heads is associated with …

payments (e.g. tax rebates) are spent on non-durable household consumption in the quarter that they are received. We develop a … Finances. A version of the model parametrized to the 2001 tax rebate episode is able to generate consumption responses to …

one that produces a deviation from its shared trend with consumption and labor income. Using quarterly stock market data … behavior imply that the log consumption-aggregate (human and nonhuman) wealth ratio forecasts the expected return on aggregate … components may be expressed in terms of observable variables, namely in terms of consumption, nonhuman wealth and labor income …

takes into account endogenous reactions and consumption smoothing of households. We use the methodology to study the impact …

We examine whether credit contributes to business cycle fluctuations by directly affecting consumption rather than … vertical and consumers face a credit ceiling. Using this assumption we find consumption growth depends on the interest rate … consumption in the late 1980s were more likely due to income revisions than financial deregulation per se. …

future policy reversal lowers the consumption rate of interest and thus will increase current consumption. Furthermore, to …

extant research on consumption insurance find that people face substantial risks that they do not fairly pool. In theory, the … consumption and wealth accumulation of price-taking households in an economy with incomplete markets differs substantially from … this decomposition as an organizing framework to present four main findings: (a) the concavity of the consumption policy …

This paper provides evidence on the relevance of the collection mode for the analysis of consumption data for the … figures from consumption reports obtained with diaries markedly differ from those obtained using recall data. We then exploit … features of the distribution of consumption (not just its mean). Finally, we show how to purge the expenditure measurements …

-sectional Italian data. We evaluate the difference between desired and observed consumption using a technique proposed by Hayashi. We … young households, non-home-owners, the unemployed and consumers living in the Southern regions. …