permanent income shocks we then study how cross-country differences in the wealth distribution and household income dynamics … households has little wealth, (ii) under larger transitory income shocks and (iii) when we consider households only using liquid …

, earnings, assets and consumption. We focus on the importance of family labor supply as an insurance mechanism to wage shocks … incorporates household consumption and family labor supply decisions. We derive analytical expressions based on approximations for … and find strong evidence of smoothing of male's and female's permanent shocks to wages. Once family labor supply, assets …

We analyse the effect of shocks to housing wealth and income before and after the Great Recession. We combine datasets … containing information on expenditure, income, wealth and debt in a synthetic panel to understand how household indebtedness … affects the response to income and wealth shocks.We find evidence for both a housing wealth effect and income shocks …

-simulations to investigate heterogeneity in the euro area. We quantify shocks to wealth, income and financial pressure faced by … affected the income-poor, while the declining wealth the income-rich. Although borrowers benefited from the substantial … decrease in interest rates, debt service-income and debt-income ratios for poor households went up as they faced falling …

- relative to older borrowers has played a major role in easing the debt repayment burden in the presence of large income shocks …. Notwithstanding historically low interest rates, we show that income shocks are the main factor contributing to mortgage repayment …

, earnings, assets and consumption. We focus on the importance of family labour supply as an insurance mechanism to wage shocks … incorporates household consumption and family labour supply decisions. We derive analytical expressions based on approximations for … and find strong evidence of smoothing of male’s and female’s permanent shocks to wages. Once family labour supply, assets …

A large body of microeconomic evidence supports Friedman (1957)'s proposition that household income can be reasonably … model of Krusell and Smith (1998) to accommodate such a microeconomic income process. Our incorporation of substantial … permanent income shocks helps our model to explain a substantial part of the large degree of empirical wealth heterogeneity that …

permanent income shocks we then study how cross-country differences in the wealth distribution and household income dynamics … households has little wealth, (ii) under larger transitory income shocks and (iii) when we consider households only using liquid …

We present a macroeconomic model calibrated to match both microeconomic and macroeconomic evidence on household income … how the shock is distributed across categories of households (e.g., low-wealth versus high-wealth households). …

We present a macroeconomic model calibrated to match both microeconomic and macroeconomic evidence on household income … how the shock is distributed across categories of households (e.g., low-wealth versus high-wealth households) …