The aim of this paper is to understand what a recession means for individual consumers, and to model in a life … negative shock to individual income; (ii) an increase in the variance of idiosyncratic permanent shocks; (iii) a tightening of … times. We show that the rise in the aggregate savings ratio is driven by increases in uncertainty, rather than tightening of …

biases - complicate an analysis of the persistence of these differences in ownership. We use two methods to deal with this …. Both indicate that cohorts with low ownership rates at age thirty close about 80% of the ownership gap by age forty. …, we document the association between house prices and homeownership at age thirty. We then use synthetic cohort methods to …

Prices of real and financial assets fell substantially in the UK during 2008-09. The fourth wave of the English … Longitudinal Study of Ageing (ELSA) was in the field throughout this 'financial crisis'. We use these data and earlier ELSA waves … first to document the effect of the crisis on the finances of those aged 50 and over in England, and second, to estimate the …

Household-level data on consumer expenditures underpins a wide range of empirical research in modern economics … data. We discuss the advantages and difficulties of each approach and suggest directions for future investigation. …

A substantial body of research on the UK's National Minimum Wage (NMW) has concluded that the the NMW has not had a … detrimental effect on employment. This research has directly influenced, through the Low Pay Commission, the conduct of policy …, including the subsequent introduction of the National Living Wage (NLW). We revisit this literature and offer a reassessment …

errors. We illustrate these with Monte Carlo experiments and empirical examples using data from the US Consumer Expenditure … Survey (CE) and the Panel Study of Income Dynamics (PSID). …Researchers are often interested in the relationship between two variables, with no single data set containing both. A …

less leveraged households. We find strong evidence of the borrow-to-invest channel in UK data. Credit constraints matter … residential investments when house prices rise. Our empirical compares responses in different kinds of spending across more and …

caused by the pandemic affects individuals across the distribution. The survey collects data from existing members of the …. Further the panel allows comparisons with a pre-pandemic baseline. We document how the shock of the pandemic translates into … different economic shocks for different types of worker: those with less education and precarious employment face the biggest …

errors. We illustrate these with empirical examples using data from the US Consumer Expenditure Survey (CE) and the Panel …Researchers are often interested in the relationship between two variables, with no single data set containing both. A … common strategy is to use proxies for the dependent variable that are common to two surveys to impute the dependent variable …