consumption-saving behavior. We construct a novel consumption-saving model where the household must infer the persistent component … marginal propensity to consume because the short run covariance between income growth and consumption growth increases when … can be identified from panel data on income and consumption. Finally, we estimate a high degree of knowledge in the Panel …

This paper studies the direct impact of households' debt on consumption over the business cycle. We use household … leverage, consumption, and asset prices. We find that debt levels exert a negative impact on consumption, which is particularly …' debt in past periods are not relevant in determining consumption; (ii) households adjust faster their consumption to debt …

This paper investigates the potentially non-linear relation between households' indebtedness and their consumption … between 2010 and 2014 in Belgium. To do so, we use panel data from the two waves of the Household Finance and Consumption … Survey. Unlike previous studies, we find a negative effect of households' indebtedness on their consumption, even in the …

degree of insurance. This, in turn, contributes to persistent racial differentials in life-cycle consumption.Starting from … the same position in the consumption distribution Blacks end up in a lower percentile than Whites after a few decades …. This is particularly marked for those Blacks who start at the top of the consumption distribution, where Whites are much …

in consumption in five key sectors: tourism, hospitality, services, retail, and public transports. We identify a large …-term sectoral consumption shifts may occur. …

in consumption in five key sectors: tourism, hospitality, services, retail, and public transports. We identify a large …-term sectoral consumption shifts may occur. …

We document relevant racial differences in the degree consumption insurance against shocks: Blacks appear to be less …

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 how households adjusted their consumption behavior in response to COVID-19 infection risk during … the early phase of the pandemic. We use a monthly consumption survey specifically designed by the German Statistical … Office covering the second wave of COVID-19 infections from September to November 2020. Households reduced their consumption …