. Using a novel dataset from the emerging economy of Kazakhstan we find that internal migrants earn an income and status …. -- absolute and relative welfare ; income ; status consumption ; signaling model ; conspicuous consumption ; adaptation ; internal …

propensity to insure against independent marketable risks. We apply these predictions to the specific case of labor income risk … and car insurance using data from the UK. The main empirical results are: -higher labor income risk induces a higher … demand for car insurance. -the effects of increases in labor income risk after 1979 seem to be more than offset by a more …

interestrate.The second part of the paper is concerned with the time-series representation of disposable income and with it … simplications for the behavior of consumption under the assumptions of the life-cycle model. If real disposable income is truly a … than innovations in income, a prediction that is manifestly false. Various possible resolutions of this problem are …

uncertainty about future income triggers saving because of loss aversion. We extend their theoretical analysis to also consider … the internal margin, i.e., the strength, of loss aversion, and empirically study the relation between income risk …, experimentally elicited loss aversion and precautionary savings. We do so using a sample of 640 individuals from the low-income …

We review different empirical approaches that researchers have taken to estimate how consumption responds to income … changes. We critically evaluate the empirical evidence on the sensitivity of consumption to predicted income changes …, distinguishing between the traditional excess sensitivity tests, and the effect of predicted income increases and income declines. We …

This paper proposes and studies a theory of adaptive consumption behavior under income uncertainty and liquidity …