general panel date on total consumption from the intertemporal budget constraint. The distribution of consumption levels is … shown to closely match that estimated using the UK's household budget survey. Consumption transitions over time are then …

general panel date on total consumption from the intertemporal budget constraint. The distribution of consumption levels is … shown to closely match that estimated using the UK's household budget survey. Consumption transitions over time are then …

of temptation and commitment is identified using data on consumption, liquid assets, and housing wealth over the life … need for commitment. Preference for illiquidity has important implications for the consumption response to unexpected …

This paper examines trends in household consumption and saving behaviour in each of the last three recessions in the UK …

effect of wealth shocks on household consumption and individual expectations of the future. Many household experienced a …

The combination of credit constraints and indivisible consumption goods may induce some riskaverse individuals to play …

This paper investigates how different income shocks shape consumption dynamics over the business cycle. First, we break … in aggregate consumption over the two most recent crises. We find that the income shocks experienced during the 2008 …, with the 2011-2012 shocks being perceived as more permanent. This helps explain why consumption falls less during the …

estimate the effect of wealth shocks on household consumption and individual expectations of the future. Many household …

This paper examines trends in household consumption and saving behaviour in each of the last three recessions in the UK … longer, but also the composition of the cutbacks in consumption expenditures differs, with a greater reliance on cuts to non …

Recent theoretical contributions have suggested consumption externalities, or peergroup effects, as a potential … intertemporal consumption choice is a completely open question. To shed some light on the issue, we derive an extension of the … standard life-cycle model that allows for consumption externalities. The analysis is complicated by the challenge of …