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Stock Market Expectations of Dutch Households
Hurd, Michael D. - 2010
Despite its importance for the analysis of life-cycle behavior, stock ownership by households is poorly understood. Among other approaches to the investigation of this puzzle, recent research has elicited the expectations of stock market returns by individuals. This paper reports findings from a...
Persistent link: https://www.econbiz.de/10012462193
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Effects of the Financial Crisis and Great Recession on American Households
Hurd, Michael D. - 2010
In this paper we present evidence from high-frequency data collections dedicated to tracking the effects of the financial crisis and great recession on American households. These data come from surveys that we conducted in the American Life Panel - an Internet survey run by RAND Labor and...
Persistent link: https://www.econbiz.de/10012462249
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Macroeconomics and Household Heterogeneity
Krueger, Dirk - 2016
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 …
Persistent link: https://www.econbiz.de/10012456356
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On the Welfare Cost of Consumption Fluctuations in the Presence of Memorable Goods
Hai, Rong - 2013
changes. We find that (i) the welfare cost of household-level consumption fluctuations may be overstated by 1.7 percentage …
Persistent link: https://www.econbiz.de/10012459275
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Measuring Total Household Spending in a Monthly Internet Survey : Evidence from the American Life Panel
Hurd, Michael D. - 2012
Beginning in May 2009 we fielded a monthly Internet survey designed to measure total household spending as the …
Persistent link: https://www.econbiz.de/10012460685
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Explanations for the Decline in Spending at Older Ages
Rohwedder, Susann; Hurd, Michael D.; Hudomiet, Péter - National Bureau of Economic Research - 2022
We use new data from the 2019 wave of the Consumption and Activities Mail Survey to help interpret the observed decline in spending as individuals age. At one extreme, forward-looking individuals optimally chose the decline; at the other, myopic individuals overspent and were forced to reduce...
Persistent link: https://www.econbiz.de/10013388816
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How Do Households Respond to Income Shocks?
Krueger, Dirk; Malkov, Egor; Perri, Fabrizio - National Bureau of Economic Research - 2023
We use panel data from the Italian Survey of Household Income and Wealth from 1991 to 2016 to document empirically what … components of the household budget constraint change in response to shocks to household labor income, both over shorter and over … which include shocks to the value of household wealth are necessary to fully evaluate the sources and the consequences of …
Persistent link: https://www.econbiz.de/10014437025
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One-Sided Limited Commitment and Aggregate Risk
Ando, Yoshiki; Krueger, Dirk; Uhlig, Harald - National Bureau of Economic Research - 2023
In this paper we study the neoclassical growth model with idiosyncratic income risk and aggregate risk in which risk sharing is endogenously constrained by one-sided limited commitment. Households can trade a full set of contingent claims that pay off depending on both idiosyncratic and...
Persistent link: https://www.econbiz.de/10014437034