During the Great Recession, the collapse of consumption across the U.S. varied greatly but systematically with house …-price declines. We find that financial distress among U.S. households amplified the sensitivity of consumption to house-price shocks …-estimated-dynamic model to measure the financial distress channel, we find that these two facts amplify the aggregate drop in consumption by 7 …

I study the effect of access to payday loans on the timing, level and composition of consumption. Using a newly … obtained military administrative dataset of sales at on-base grocery and department stores, I examine how consumption behavior … known wait times between paycheck receipts throughout the year, I can examine daily consumption patterns in ways that were …

This paper compares the main findings from the third wave of the Household Finance and Consumption Survey (HFCS) for …

information on consumption, income and wealth, to structurally estimate a buffer-stock saving model. We exploit the information … contained in the joint dynamics of income, consumption and wealth to quantify the degree of insurance against income risk … do not impose any model structure on the consumption process. This suggests that Italian households do not have access to …