, Blundell and Bonhomme (2017). Our focus is on the estimation of consumption responses to persistent nonlinear income shocks in …In this paper we use the enhanced consumption data in the Panel Survey of Income Dynamics (PSID) from 2005-2017 to … explore the transmission of income shocks to consumption. We build on the nonlinear quantile framework introduced in Arellano …

We develop a new approach to the decomposition of income risk within a nonstationary model of intertemporal choice. The … approach allows for changes in income risk over the life-cycle and with the business cycle. It requires only repeated cross …-section data and can allow for mixtures of persistent and transitory components in the dynamic process for income. Evidence from a …

We develop a new approach to the decomposition of income risk within a non- stationary model of intertemporal choice … of persistent and transitory components in the dynamic process for income. We fo- cus on what can be learned from … repeated cross-section data alone. Evidence from a stochastic simulation of consumption choices in a nonstationarity …