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Advance information and consumption insurance : evidence from panel data
Pedroni, Marcelo; Singh, Swapnil; Stoltenberg, Christian - 2022 - Preliminary, April 15, 2022
incomplete markets model and find that advance information reduces households' income forecast errors by 15%. Our estimation …
Persistent link: https://www.econbiz.de/10013186823
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Idiosyncratic labour income risk and aggregate consumption : an unobserved component approach
Pozzi, Lorenzo - 2007
We investigate the importance of aggregate and consumer-specific or idiosyncratic labour income risk for aggregate … consumption changes in the US over the period 1952-2001. Theoretically, the effect of labour income risk on consumption changes is … decomposed into an aggregate and into an idiosyncratic part. Empirically, aggregate risk is modelled through a GARCH process on …
Persistent link: https://www.econbiz.de/10011372981
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Cyclical consumption
Berger, Tino; Pozzi, Lorenzo - 2023
Recessions and expansions are often caused or reinforced by developments in private consumption - the largest component of aggregate demand - which, as a result, varies over the business cycle. As such, an accurate measurement of the cyclical component of consumption and an understanding of its...
Persistent link: https://www.econbiz.de/10014380708
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The bicausal relation between religion and income
Bettendorf, Leon; Dijkgraaf, Elbert - 2005
Persistent link: https://www.econbiz.de/10003233485
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Idiosyncratic labour income risk and aggregate consumption : an unobserved component approach
Pozzi, Lorenzo - 2007
Persistent link: https://www.econbiz.de/10003609101
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Reconciling consumption inequality with income inequality
Lepetyuk, Vadym; Stoltenberg, Christian - 2013
Persistent link: https://www.econbiz.de/10010191294
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Spatial moving behaviour of two-earner households
Ommeren, Jos van; Rietveld, Piet; Nijkamp, Peter - 1995
Persistent link: https://www.econbiz.de/10000925497
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The time-varying volatility of earnings and aggregate precautionary savings
Pozzi, Lorenzo - 2011
Persistent link: https://www.econbiz.de/10009720736
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Consumption and wealth in the long run : an integrated unobserved component approach
Gardberg, Malin; Pozzi, Lorenzo - 2018 - Revision: September 2018
calculated from the estimation of a log-linear version of the household intertemporal budget constraint as a cointegrating …
Persistent link: https://www.econbiz.de/10011844588
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Consumption choices and earnings expectations : empirical evidence and structural estimation
Stoltenberg, Christian; Uhlendorff, Arne - 2023
In this paper, we document that households' consumption expenditures crucially depend on their expected earnings - even after controlling for realized earnings, wealth and time-invariant unobserved characteristics such as permanent income and over-confidence. To explain this evidence, we develop...
Persistent link: https://www.econbiz.de/10014249642