. These results highlight how the heterogeneity in contract design and household wealth affects the monetary policy pass-through … unique panel dataset of household's credit and debit card spending, ATM withdrawals, financial investments into risky assets …

experiments than in real life. We modify standard risky choice protocols by making participants earn their money at risk by … completing manual tasks such as peeling potatoes. This leads to less risk-taking and to choices more consistent with those online … survey respondents anticipate making with their own money. When realistic levels of risk aversion are important, experiments …

households when the effect on household income is partly in the future. …

in aggregate demand. As the investor is risk averse, volatility of aggregate demand reduces investment. Government …

standard DSGE models and VAR evidence and relatively homogeneous, there is strong heterogeneity among households. Households … that a substantial fraction of deviations of household predictions from expert predictions can be explained by the use of a …

In this paper we study the role of household portfolio rebalancing channel for the aggregate and redistributive effects … subsequent wealth effect on consumption. In order to jointly study these effects, we introduce an heterogeneous household life … reduction in expected return on household portfolio. However, the strength of these two forces notably varies depending on …

heterogeneity in household finances implies that responses of consumption to changes in the real interest rate and in house prices …This paper quantifies the extent of heterogeneity in consumption responses to changes in real interest rates and house …-cycle incomplete-markets model with a liquid financial asset and illiquid housing to match the large heterogeneity of households asset …