application to the income-consumption relationship, using monthly US time series. Evidence is found to support the claim that the … series ; business cycles ; conditional distribution ; consumption-income relationship ; copula ; multivariate time …

"We assess the degree of consumption smoothing implicit in a calibrated life-cycle version of the standard incomplete … the model have access to less consumption-smoothing against permanent earnings shocks than what is measured in the data …. BPP estimate that 36% of permanent shocks are insurable (i.e., do not translate into consumption growth), whereas the …

choices over the life cycle. We start by analyzing the theoretical impact of income changes on consumption - highlighting the … contributions, distinguishing between papers that use only income data and those that use both income and consumption data. The …We discuss recent developments in the literature that studies how the dynamics of earnings and wages affect consumption …