households who are perceived to be richer, on household savings and consumption. When controlling for own income as well as … consumption of up to 23 euros depending on the household's position in the income distribution. Our findings suggest that changing …

the consumption level of all households who are perceived to be richer, on household savings and consumption. When …We demonstrate that interpersonal comparisons lead to "keeping up with the Joneses"-behavior. Using annual household …

-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 …