consumption volatility. A household's currently observed poverty status might therefore not be a good indicator of the household …

-convex portfolio adjustment costs. The goal is to understand a household's response to income and return shocks. The model includes the … multiple assets, a household can buffer some income fluctuations through the asset without adjustment costs and engage in …

that imperfectly insured household consumption distorts household incentive to supply labor hours through an idiosyncratic …

fluctuations in household wealth have driven major swings in economic activity. This paper considers so-called wealth effects - the … impact of changes in wealth on household consumption and the overall macroeconomy. There is an extensive existing literature …

We use the Italian Survey of Household Income and Wealth, a rather unique dataset with a long time dimension of panel …