to account for anticipation effects on consumption. We investigate this using high-frequency spending and balance sheet … with a standard buffer-stock consumption model, and implies that it is less effective to target stimulus to low liquidity …

targeting household consumption and debt and might lead to regressive redistribution from low- to high …

measures as well as consumption based measures are gaining increasing currency in scientific analysis of economic well …-being. Our findings suggest that a consumption-based measure gives very different answers about relative economic standing across … measuring the relationship between income and consumption across groups and time, we are able to evaluate how differences in …

This paper examines the extent to which consumption in Russian households responds to exogenous income shocks. During … wealth households. Only models of consumption which include precautionary savings motives can explain why poorer households … both reduce their consumption and increase their savings in response to an exogenous decline in income. …

This paper describes the transmission of income inequality into consumption inequality and in so doing investigates the … degree of insurance to income shocks. It combines panel data on income from the PSID with consumption data from repeated CEX … found to play an important role in insuring permanent shocks. Adding durable expenditures to the consumption measure …

Recent theoretical contributions have suggested consumption externalities, or peergroup effects, as a potential … intertemporal consumption choice is a completely open question. To shed some light on the issue, we derive an extension of the … standard life-cycle model that allows for consumption externalities. The analysis is complicated by the challenge of …

This paper uses panel data on household consumption and income to evaluate the degree of insurance to income shocks …. Our aim is to describe the transmission of income inequality into consumption inequality. Our framework nests the special …-sectional distribution of consumption growth, and analyzing the way these two measures of household welfare correlate over time. We combine …

The budget constraint requires that, eventually, consumption must adjust fully to any permanent shock to income …