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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 …
Persistent link: https://www.econbiz.de/10012847991
With medical expenditures constituting an increasingly large share of private spending, the continuing policy debate on health care reform in the United States is a potentially important source of households' financial uncertainty. To quantify the implications of this uncertainty for the real...
Persistent link: https://www.econbiz.de/10012848640
Using new employer-employee matched data, this paper investigates the impact of uncertainty, as measured by idiosyncratic stock market volatility, on individual outcomes. We find that firms provide at best partial insurance to their workers. Increased firm-level uncertainty reduces total...
Persistent link: https://www.econbiz.de/10013299220
widely available on a national, aggregate level, disaggregated data on household spending are scarce, particularly in the … on the simple budget constraint of a household. This approach yields a unique panel of income, wealth and consumption for … suggest that consumption and saving behaviour vary across different household characteristics. Finally, we show that …
Persistent link: https://www.econbiz.de/10013306203
This report summarises the methodologies used in the fourth wave of the Eurosystem Household Finance and Consumption … Survey, which provides household-level data collected in a harmonised way in all 19 euro area countries, as well as in the …
Persistent link: https://www.econbiz.de/10014314597
This report summarises the stylized facts from the fourth wave of the Eurosystem Household Finance and Consumption … Survey, which provides household-level data collected in a harmonised way in all 19 euro area countries, as well as in the … household assets and liabilities, income, and indicators of consumption and credit constraints. …
Persistent link: https://www.econbiz.de/10014314599
microdata from the Estonian Household Finance and Consumption Survey (HFCS) and estimates probit and Heckman models. My analysis … larger. The variables describing the household's expectations for its future financial situation are on their own related to … sociodemographic characteristics of the household. …
Persistent link: https://www.econbiz.de/10014319317
Households face earnings risk which is non-normal and varies by age and over the income distribution. We show that allowing for these rich features of earnings dynamics, in the context of a structurally estimated life-cycle portfolio choice model, helps to rationalize the limited participation...
Persistent link: https://www.econbiz.de/10014278693
We study the redistributive effects of inflation combining administrative bank data with an information provision experiment during an episode of historic inflation. On average, households are well-informed about prevailing inflation and are concerned about its impact on their wealth; yet, while...
Persistent link: https://www.econbiz.de/10014364676
We study the redistributive effects of inflation combining administrative bank data with an information provision experiment during an episode of historic inflation. On average, households are well-informed about prevailing inflation and are concerned about its impact on their wealth; yet, while...
Persistent link: https://www.econbiz.de/10014339966