We show that in a New Keynesian model with household heterogeneity, fiscal policy can be a perfect substitute for … induce the same consumption and labor supply of each household and, thus, the same allocation as interest rate policies. When …

spending from 2009 through 2012 that also allow us to control for household heterogeneity. We find that durables spending …

In this paper household level data are used to explore whether unemployment risk is an important factor in the timing … household debt play a direct role, offering a potential explanation for fluctuations in durable goods spending over the business …

This paper investigates the importance of status in household consumption and financial decisions using household data … evidence that a household's income rank — its position in the income distribution relative to its close neighbors — is … household's portfolio. More aggregate county-level evidence based on a dataset of every new car sold in each county in the …