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 …

This paper investigates the causes of the Italian consumption bust of the early 1990s by estimating deviations from … 'normal' consumption using household level data for 1985-94. The data set used is a particularly rich, but as yet unexplored … households each year. The main findings are that the decline in consumption was larger for the working age households. The fall …

cycle, of several dimensions of economic inequality, including wages, labor earnings, income, consumption, and wealth. After … distribution. Consumption inequality increased less than disposable income inequality, and tracked the latter much more closely at …

This paper extends the standard model of the life cycle consumption, saving and labor supply in a number of direction. …

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 develops an analytical framework to study consumption and labour supply in a rich class of heterogeneous … equilibrium joint distribution over wages, hours and consumption. With these expressions in hand, we show that all the structural … wages and hours, and cross-sectional data on consumption. We estimate the model on CEX and PSID data for the U.S. economy …

We use data from the 2009 Internet Survey of the Health and Retirement Study to examine the consumption impact of …, and those who do not. In line with the predictions of standard models of intertemporal choice, we find that the latter …

transitory shocks? The implications for consumption and welfare depend crucially on the answer to this question. We use CEX … repeated cross-section data on consumption and income to decompose idiosyncratic changes in income into predictable life … evolution of consumption and income inequality well and delivers two main results. First, we find that permanent changes in …