of a household it is important to understand how households act when they base their consumption and investment decisions … own the home, that - besides the consumption and the precautionary savings motive - serial correlation in house prices … homeownership rates, leverage, stock investments and consumption and can explain empirically observed household behavior during …

-cycle framework how individuals respond to recessions. Our focus is on the sharp increase in savings rates that have been observed in … times. We show that the rise in the aggregate savings ratio is driven by increases in uncertainty, rather than tightening of …

-cycle framework how individuals respond to recessions. Our focus is on the sharp increase in savings rates that have been observed in … times. We show that the rise in the aggregate savings ratio is driven by increases in uncertainty, rather than tighening of … constraints ; savings ; recessions ; uncertainty …