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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
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Consumption choices and earnings expectations : empirical evidence and structural estimation
Stoltenberg, Christian; Uhlendorff, Arne - 2022
In this paper, we document that households' consumption expenditures depend on their expected earnings - even after controlling for realized earnings and wealth. To explain this evidence, we develop and structurally estimate a standard-incomplete markets model in which rational households...
Persistent link: https://www.econbiz.de/10013332707
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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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Advance information and consumption insurance : evidence from panel data
Pedroni, Marcelo; Singh, Swapnil; Stoltenberg, Christian - 2022 - Preliminary, April 15, 2022
We investigate whether US households possess advance information about their future income and what this means for consumption insurance. Based on insights from a theoretical model, we propose a new test to detect advance information, which requires only panel data on consumption and income....
Persistent link: https://www.econbiz.de/10013186823
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Optimal sharing of labor productivity risks and mix of pay-as-you-go and savings
Kusmerski Bilard, Debora - 2008
above the expected growth rate of the economy and when thegovernment has a lifetime perspective of the risk exposure. The …
Persistent link: https://www.econbiz.de/10011376622
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SHE can't afford it and HE doesn't want it : the gender gap in the COVID-19 consumption response
Huber, Stefanie J. - 2022
consuming less reveals that gender differences in infection risk aversion and precautionary saving motives are small. I find …
Persistent link: https://www.econbiz.de/10013175577
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The COVID-19 consumption game-changer : evidence from a large-scale multi-country survey
Hodbod, Alexander; Hommes, Cars H.; Huber, Stefanie J.; … - 2021 - Version: 2021-10-17
Prospective economic developments depend on the behavior of consumer spending. A key question is whether private expenditures recover once social distancing restrictions are lifted or whether the COVID-19 crisis has a sustained impact on consumer confidence, preferences, and, hence, spending....
Persistent link: https://www.econbiz.de/10012665880
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Vulnerability in a stochastic dynamic model
Elbers, Chris; Gunning, Jan Willem - 2003 - Rev.
to find a household's optimal welfare and we measure vulnerability as the shortfall from the welfare attained if the … household consumed permanently at the poverty line. The results indicate that vulnerability is very sensitive to the time …
Persistent link: https://www.econbiz.de/10011334363
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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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Intra-household insurance and the intergenerational transmission of income risk
Agostinelli, Francesco; Ferraro, Domenico; Qiu, Xincheng; … - 2024
This paper studies the mechanisms and the extent to which parental wage risk passes through to children's skill … not work at all, time spent with children, and child-related expenditures, we find that income risk impacts skill … childhood is hard-as available evidence suggests-uninsurable income risk can negatively impact the labor market prospects of …
Persistent link: https://www.econbiz.de/10014457814