individual-pre-tax and household-post-tax earnings and across administrative (Social Security Administration) and survey (Panel … Study of Income Dynamics) data. We estimate two alternative processes for household after-tax earnings and study their …

The goal of this chapter is to study how, and by how much, household income, wealth, and preference heterogeneity …, using data from the Panel Study of Income Dynamics, we document the patterns of household income, consumption and wealth …. Motivated by this evidence, we study several variants of a standard heterogeneous household model with aggregate shocks and an …

This paper examines the relationship between household balance sheets, consumer purchases, and expectations. We find … an explicit role for unemployment and for household debt. We find that the model is capable of explaining several …

-convex portfolio adjustment costs. The goal is to understand a household's response to income and return shocks. The model includes the … multiple assets, a household can buffer some income fluctuations through the asset without adjustment costs and engage in …

We measure the response of household spending to the economic stimulus payments (ESPs) disbursed in mid-2008, using …

related or not, even with the best data. We thus look at household finances and find that individuals delever upon retirement …

Expenditure visibility—the extent to which a household's spending on a consumption category is noticeable to others …