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Non-durable Consumption and Housing Net Worth in the Great Recession : Evidence from Easily Accessible Data

Kaplan, Greg - 2016

measure the effect of changes in the housing share of net worth on total household expenditures during the Great Recession …-accessible proxy for expenditures in non-durable goods. We re-affirm their findings in our data, and refine their analysis in several … consumption versus nominal expenditures; and (iii) we infer the implied elasticity of total non-durable expenditures in goods and …

Persistent link: https://www.econbiz.de/10012456443

The Consumption, Income, and Well-Being of Single Mother Headed Families 25 Years After Welfare Reform

Han, Jeehoon; Meyer, Bruce D.; Sullivan, James X. - National Bureau of Economic Research - 2021

We investigate how material well-being has changed over time for single mother headed families--the primary group affected by welfare reform and other policy changes of the 1990s. We focus on consumption as well as other indicators including components of consumption, measures of housing...

Persistent link: https://www.econbiz.de/10012616635

The Marginal Propensity to Consume in Heterogeneous Agent Models

Kaplan, Greg; Violante, Giovanni L. - National Bureau of Economic Research - 2022

What model features and calibration strategies yield a large average marginal propensity to consume (MPC) in heterogeneous agent models? Through a systematic investigation of models with different preferences, dimensions of ex-ante heterogeneity, income processes and asset structure, we show...

Persistent link: https://www.econbiz.de/10013210041

Changes in the Distribution of Economic Well-Being during the COVID-19 Pandemic : Evidence from Nationally Representative Consumption Data

Meyer, Bruce D.; Murphy, Connacher; Sullivan, James X. - National Bureau of Economic Research - 2022

We examine the distribution of household consumption, income and savings from 2019 through the end of 2020 using the Consumer Expenditure Survey (CE) and other data. This is the first work to study the impact of the COVID-19 pandemic on economic well-being using nationally representative...

Persistent link: https://www.econbiz.de/10013172177

Five Decades of Consumption and Income Poverty

Meyer, Bruce D. - 2009

This paper examines poverty in the United States from 1960 through 2005. We investigate how poverty rates and poverty gaps have changed over time, explore how these trends differ across family types, contrast these trends for several different income and consumption measures of poverty, and...

Persistent link: https://www.econbiz.de/10012463820

Further Results on Measuring the Well-Being of the Poor Using Income and Consumption

Meyer, Bruce D. - 2007

In the U.S., analyses of poverty rates and the effects of anti-poverty programs rely almost exclusively on income data. In earlier work (Meyer and Sullivan, 2003) we emphasized that conceptual arguments generally favor using consumption data to measure the well-being of the poor, and, on...

Persistent link: https://www.econbiz.de/10012465193

Measuring the Well-Being of the Poor Using Income and Consumption

Meyer, Bruce D. - 2003

We evaluate consumption and income measures of the material well-being of the poor. We begin with conceptual and pragmatic reasons that favor income or consumption. Then, we empirically examine the quality of standard data by studying measurement error and under-reporting, and by comparing...

Persistent link: https://www.econbiz.de/10012468938

Consumption and Income Inequality in the U.S. Since the 1960s

Meyer, Bruce D. - 2017

Official income inequality statistics indicate a sharp rise in inequality over the past five decades. These statistics do not accurately reflect inequality because income is poorly measured, particularly in the tails of the distribution, and current income differs from permanent income, failing...

Persistent link: https://www.econbiz.de/10012455027

Monetary Policy According to HANK

Kaplan, Greg - 2016

We revisit the transmission mechanism of monetary policy for household consumption in a Heterogeneous Agent New Keynesian (HANK) model. The model yields empirically realistic distributions of household wealth and marginal propensities to consume because of two key features: multiple assets with...

Persistent link: https://www.econbiz.de/10012456775

The Wealthy Hand-to-Mouth

Kaplan, Greg - 2014

The wealthy hand-to-mouth are households who hold little or no liquid wealth (cash, checking, and savings accounts), despite owning sizable amounts of illiquid assets (assets that carry a transaction cost, such as housing or retirement accounts). We use survey data on household portfolios for...

Persistent link: https://www.econbiz.de/10012458591