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 …

to account for anticipation effects on consumption. We investigate this using high-frequency spending and balance sheet … with a standard buffer-stock consumption model, and implies that it is less effective to target stimulus to low liquidity …

Conventional estimators based on the consumption Euler equation, intensively used in studies of intertemporal … consumption behavior, produce biased estimates of the effect of children on the marginal utility of consumption if consumers face … children on the marginal utility of consumption. I estimate these bounds using the Panel Study of Income Dynamics and find that …

Utilizing the asset pricing framework, we justify S-shaped consumption utility functions by reconciling realized … consumption with asset returns. The S-shaped consumption utility predicts a possible negative correlation between asset returns … and lower quantiles of consumption growth, for which we find evidence from micro-level data. This evidence refutes a …

consumption, particularly for individuals under the threat of furlough, while simultaneously increasing their account balances … the ability of the standard economic model to accurately predict consumption patterns, although this effect was less …

income and consumption in panel data. I examine Blundell, Pistaferri and Preston (2008) as an important example for which … resolves the dissonance between the low partial consumption insurance estimates of Blundell, Pistaferri and Preston (2008) and …

of temptation and commitment is identified using data on consumption, liquid assets, and housing wealth over the life … need for commitment. Preference for illiquidity has important implications for the consumption response to unexpected …, a finding that cannot be explained by current heterogeneous agent models, but that has great significance for fiscal …

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 …