Recent studies of economic inequality almost always separately examine income, consumption, and wealth inequality and …-wealth households cannot smooth consumption as much as other households do, which further implies that increasing wealth inequality … likely reduces aggregate consumption and limits economic growth …

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

Using a macro quantile factor model, we examine cross-state (i.e., cross-quantile) heterogeneity in consumption … behaviors. We find that common macro factors generate a “big bang/crunch” effect on micro consumption. Generally speaking, when … the aggregate effect of the common factors on the consumption in low consumption-growth states is negative (resp. positive …

We show that the optimal consumption of an individual over the life cycle can have the hump shape (inverted U …, an impatient individual would prefer a decreasing consumption path over life. However, because of habit formation, a high … initial consumption would lead to high required consumption in the future. To cover the future required consumption, wealth is …

We collect 2,735 estimates of the elasticity of intertemporal substitution in consumption from 169 published studies … participation substitute a larger fraction of consumption intertemporally in response to changes in expected asset returns. Micro …

Carroll and Kimball (1996) show that the consumption function for an agent with time-separable, isoelastic preferences … always exists a distribution of income risk such that consumption function is not concave in wealth. I also derive suffi … cient conditions guaranteeing that the consumption function is concave if the agent has preferences for late resolution of …

This paper tests whether the Ricardian Equivalence proposition holds in a life cycle consumption laboratory experiment … not hold in general. Our results suggest that taxation has a significant and strong impact on consumption choice. Over the … life cycle, a tax relief increases consumption on average by about 22% of the tax rebate. A tax increase causes consumption …

This paper tests whether the Ricardian Equivalence proposition holds in a life cycle consumption laboratory experiment … not hold in general. Our results suggest that taxation has a significant and strong impact on consumption choice. Over the … life cycle, a tax relief increases consumption on average by about 22% of the tax rebate. A tax increase causes consumption …

This paper tests whether the Ricardian Equivalence proposition holds in a life cycle consumption laboratory experiment … not hold in general. Our results suggest that taxation has a significant and strong impact on consumption choice. Over the … life cycle, a tax relief increases consumption on average by about 22% of the tax rebate. A tax increase causes consumption …

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