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 … earnings dynamics implies a substantially better fit of the evolution of cross-sectional consumption inequality over the life …

stimulate aggregate demand. We investigate whether "unconventional" fiscal policy, in the form of pre-announced consumption tax …

, using data from the Panel Study of Income Dynamics, we document the patterns of household income, consumption and wealth …The goal of this chapter is to study how, and by how much, household income, wealth, and preference heterogeneity …. 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 … expectations are robustly correlated with spending. We then construct a formal model of durables and nondurables consumption with … an explicit role for unemployment and for household debt. We find that the model is capable of explaining several …

We investigate the stochastic relation between income and consumption (specifically, consumption of food) within a … panel of about 2,000 households. Our major findings are: 1. Consumption responds much more strongly to permanent than to …, independent of our model of consumption, rejects a central implication of the pure life cycle-permanent income hypothesis. The …

varied dramatically across regions. House prices, consumption and unemployment remain below pre-crisis levels in about half … house prices, consumption, and employment. Our findings have implications for mortgage market design, monetary policy pass …

, especially for some subgroups. Household finance researchers must look beyond precautionary savings to understand how families …