The goal of this chapter is to study how, and by how much, household income, wealth, and preference heterogeneity …, using data from the Panel Study of Income Dynamics, we document the patterns of household income, consumption, and wealth …. Motivated by this evidence, we study several variants of a standard heterogeneous household model with aggregate shocks and an …

household net worth coming from elevated household debt and the collapse in house prices play an underappreciated role. Using … highlight the increasing body of macroeconomic evidence on the link between household debt and business cycles. Our main … conclusion is that housing and household debt should play a larger role in models exploring the importance of household …

fluctuations in household wealth have driven major swings in economic activity. This paper considers so-called wealth effects - the … impact of changes in wealth on household consumption and the overall macroeconomy. There is an extensive existing literature …

in a dynamic stochastic general equilibrium model. Our model economy is populated by two different household types …

externalities are an important driver of consumer credit dynamics. Our model economy is populated by two different household types …