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. Using the Panel Study of Income Dynamics, we find-in contrast to the …

after controlling for realized earnings, wealth and time-invariant unobserved characteristics such as permanent income and …

confidence shock in the Southern European countries and a shift in consumer preferences in the Northern European countries …, particularly among high-income earners. We conclude that the COVID-19 experience has altered consumer behavior and that long …

outcomes. Using the health shock as an instrumental variable shows that the onset of a disability at age 25 causally reduces …

worker buys an insurance, which gives a constant income and retirement benefits in exchange for the total output. The level … of income and benefits is set to maximize lifetime utility. In such framework we find the retirement threshold of …

In this paper the relation between religion and income is investigated using a micro-dataset for the Netherlands …. Religiosity is measured by religious membership and by participation. Instead of estimating separately a religion and an income … approach, both religious measures are found to decrease significantly income and income is found to affect negatively religion …

influence of religion on income. The violation of the homogeneity assumption would have two consequences. First, results based … countries. We estimate simultaneously an income and a religion equation to correct for the endogeneity of religiosity. We find … that estimation outcomes are different between low and high-income countries. Whereas church membership is found to have a …

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 … aggregate labour income shocks and individual risk is modelled as an unobserved component and obtained through Kalman filtering …