empirical regularity, which is that the distribution of consumption expenditures across households is, within cohorts, closer to …

to account for anticipation effects on consumption. We investigate this using high-frequency spending and balance sheet … with a standard buffer-stock consumption model, and implies that it is less effective to target stimulus to low liquidity …

targeting household consumption and debt and might lead to regressive redistribution from low- to high …

This paper examines the extent to which consumption in Russian households responds to exogenous income shocks. During … wealth households. Only models of consumption which include precautionary savings motives can explain why poorer households … both reduce their consumption and increase their savings in response to an exogenous decline in income. …

broadly, financial assets), which is often interpreted as a larger MPC (Marginal Propensity of Consumption) out of housing … assets. We build a household consumption and portfolio choice model with two risky assets, housing and stocks, whereby … collateral eect on non-durable consumption. …

consumption, controlling for cohort and time effects. We construct age profiles for total and nondurable consumption as well as …

transitory shocks? The implications for consumption and welfare depend crucially on the answer to this question. We use CEX … repeated cross-section data on consumption and income to decompose idiosyncratic changes in income into predictable life … evolution of consumption and income inequality well and delivers two main results. First, we find that permanent changes in …

We use CEX repeated cross-section data on consumption and income, to evaluate the nature of increased income inequality … for cyclical behavior of consumption risk, casting doubt on Constantinides and Duffie’s (1995) explanation for the equity …

In this paper, we analyze a variety of data on saving motives, bequest motives, and bequest division from the …