risks. Without income insurance, consumption rises during employment and falls during unemployment. Optimal employment …This paper derives optimal employment contracts when workers are risk averse and there are employment and unemployment … contracts offer severance compensation and sometimes give notice before dismissal. Severance compensation smoothes consumption …

By how much do employed households reduce their consumption when the aggregate unemployment rate rises? In Spain during … of their expectations on future income growth rates: the shadow of unemployment. Using consumption panel data that … the Great Recession a 1 percentage point increase in the unemployment rate was related to a strong drop in household …

This paper provides new empirical insights on the joint distribution of consumption, income, and wealth (CIW) in three … transmission from income to consumption inequality, which suggests the presence of powerful institutions that favor consumption …

changes in disposable income around the country's financial crisis in 2008, to plot the life-cycle path of consumption and … income for different education groups and to estimate the level of consumption smoothing. We split households into three … educated engage in more consumption smoothing than those without a university degree. We also construct a measure for marginal …

Much of the literature on the effect of housing wealth on consumption has been embedded in a simple life-cycle model in … changes in consumption. However, this might constitute a fallacy of composition. Such models ignore that changes in housing … the classic Ando-Modigliani consumption function augmented by housing wealth can be deduced. It is shown that the deeper …

We use CHIP data from 1995, 2002, and 2013 to investigate inequality in urban household consumption expenditures …. Overall inequality in urban household consumption expenditures measured by the Gini coefficient decreased slightly from 0 … to a greater extent. However, the percentile ratio of p90/p10 shows that consumption inequality always increased. In …