We use sizeable lottery prizes in Norwegian administrative panel data to characterize households' marginal propensities … to consume (MPCs). Our main contribution is to document how MPCs vary with household characteristics and prize size, and … normal within 5 years. Controlling for all items on households' balance sheets and characteristics such as education and …

heterogeneity in household finances implies that responses of consumption to changes in the real interest rate and in house prices …This paper quantifies the extent of heterogeneity in consumption responses to changes in real interest rates and house …-cycle incomplete-markets model with a liquid financial asset and illiquid housing to match the large heterogeneity of households asset …

gains and report greater propensities to consume. A standard optimal consumption choice model, enriched with a rational but …

We use the Italian Survey of Household Income and Wealth, a rather unique dataset with a long time dimension of panel … information on consumption, income and wealth, to structurally estimate a buffer-stock saving model. We exploit the information … contained in the joint dynamics of income, consumption and wealth to quantify the degree of insurance against income risk. The …

We examine the effects of monetary policy on household self-assessed financial stress and durable consumption using … panel data from eighteen annual waves of the British Household Panel Survey. For identification, we exploit random variation … in household exposure to interest rates generated by the random timing of household interview dates with respect to …

This paper studies the secular increase in U.S. household debt and its relation to growing income inequality and … financial fragility. We exploit a new household-level dataset that covers the joint distributions of debt, income, and wealth in … income growth played a central role in rising indebtedness. Debt-to-income ratios have risen most dramatically for households …

across states shows that the rise in top income shares can explain almost all of the accumulation of household debt held as a …Rising income inequality since the 1980s in the United States has generated a substantial increase in saving by the top … of the income distribution, which we call the saving glut of the rich. The saving glut of the rich has been as large as …

We have investigated the influence of fiscal instruments, notably taxes on income and government spending, on household … consumption in two different samples and two measures of household debt to provide a comprehensive analysis of the topic. We used … fiscal impulses increase private consumption, but when households are highly indebted, patterns change, and increased …

large increase in earned income, employment, assets, real estate, secured debt, home ownership, and wealth that persists for … increase in earned income. …