regular payments from the Alaska Permanent Fund, with a large average marginal propensity to consume (MPC) of 30% for … estimated MPCs are monotonically decreasing in the loss and increasing in income for households with sufficient liquidity. I …

Starting in 1982, the Alaska Permanent Fund Dividend allows each full-time resident in Alaska, including infants born … in the qualifying year, to receive a sizable dividend. This dividend, which represents a form of a Universal Basic Income …-in-differences models to account for confounding factors and unobserved heterogeneity, we model the effect of income on fertility by …

this is primarily a consequence of rising real per capita income, which more than doubled over the same period. We … investigate this hypothesis empirically by instrumenting for local area income with time-series variation in global oil prices … an increase in income on health expenditures. Our central estimate is an income elasticity of 0.7, with an elasticity of …

unconditional cross-sectional moments of household consumption growth and the moments of the risk-free rate, equity premium, price-dividend … ratio, and aggregate dividend and consumption growth. The model-implied risk-free rate and price-dividend ratio are …

We develop a general equilibrium model in which income and dividends are smooth, but asset prices are subject to large … conditional volatility of income process. An important prediction of the model is that income volatility predicts future jumps …, while the variation in the level of income does not. We find that indeed in the data large moves in returns are predicted by …