an explicit role for unemployment and for household debt. We find that the model is capable of explaining several …This paper examines the relationship between household balance sheets, consumer purchases, and expectations. We find … few robust empirical relationships between balance sheet measures and spending, but we do find that unemployment …

an explicit role for unemployment and for household debt. We find that the model is capable of explaining several …This paper examines the relationship between household balance sheets, consumer purchases, and expectations. We find … few robust empirical relationships between balance sheet measures and spending, but we do find that unemployment …

This paper examines the relationship between household balance sheets, consumer purchases and expectations. We find few … robust empirical relationships between balance sheet measures and spending, but we do find that unemployment expectations are …

between expectations of future job losses and the subsequent impact that these expectations have on household consumption … important impact on household consumption smoothing following a job loss. The second part of the paper finds that although a job … loss significantly reduces household consumption, there is little evidence that the degree to which households anticipate …