We examine the household consumption response to fluctuations in income and uncertainty, exploiting a large panel …, both household-specific income uncertainty and local labor market uncertainty depress consumption spending. We also find …

This papers examines the potential link between household credit shocks and income inequality at the national level …

The goal of this chapter is to study how, and by how much, household income, wealth, and preference heterogeneity …, using data from the Panel Study of Income Dynamics, we document the patterns of household income, consumption, and wealth …. Motivated by this evidence, we study several variants of a standard heterogeneous household model with aggregate shocks and an …

household net worth coming from elevated household debt and the collapse in house prices play an underappreciated role. Using … highlight the increasing body of macroeconomic evidence on the link between household debt and business cycles. Our main … conclusion is that housing and household debt should play a larger role in models exploring the importance of household …

) excess volatility in consumption and (2) household consumption elasticities that have low correlation with income. With a … using survey data on household expectations of their future income …

fluctuations in household wealth have driven major swings in economic activity. This paper considers so-called wealth effects - the … impact of changes in wealth on household consumption and the overall macroeconomy. There is an extensive existing literature …

. Hence, household consumption is not only determined by habit persistence but also by interpersonal comparisons. Most …

We set up and solve a rich life-cycle model of household decisions involving consumption of both perishable goods and …

through which financial system uncertainty affects household decisions. …