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 …

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

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 lifecycle … evolution of consumption and income inequality well and delivers two main results. First, we find that permanent changes in …

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 …

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

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. …

periodically but make consumption decisions on a more frequent basis. The model incorporates price uncertainty and imperfect credit … markets. The simulated numerical solution to this model shows that weekly consumption functions are ordered such that the …

This paper reviews the role of house prices in influencing private consumption and residential investment in OECD … borrow for current consumption on the basis of their housing wealth, and the easing of borrowing constraints has often been … for the major OECD countries suggest that house prices have a significant positive impact on private consumption through …