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 …

This paper uses household surveys from 13 developing countries to describe consumption choices, health and education … investments, employment patterns and other features of the of the economic lives of the “middle classes” defined as those whose … daily consumption per capita is between $2 and $4 or between $6 and $10. The data shed lights on differences and …

We simulate a buffer-stock model of consumption, explicitly aggregate over consumers, and estimate aggregate marginal …

to fluctuations in wealth. 3. What kinds of shocks govern the dynamic behaviour of consumption, asset wealth and labour … income? We characterize three: a permanent income shock that affects consumption, asset wealth and labour earnings without … consumption adapt with a lag to permanent movements in wealth? Despite their quantitative importance, transitory fluctuations in …

State-level consumption exhibits excess sensitivity to lagged income to the same extent as US aggregate data, but state …-specific (idiosyncratic) consumption exhibits substantially less sensitivity to lagged stste-specific income - a result that also holds for … reaction of consumption to idiosynctratic disposable income shocks even if it fails at the aggregate US level. Further analysis …