cycle, of several dimensions of economic inequality, including wages, labor earnings, income, consumption, and wealth. After … distribution. Consumption inequality increased less than disposable income inequality, and tracked the latter much more closely at …

seekers might use short term employment in undesirable jobs as a way to finance consumption during subsequent unemployed …

We analyze the optimal consumption program of an infinitely-lived consumer who maximizes the discounted sum of … greater than or equal to the discount rate, then consumption eventually grows without bound with probability one. We also … optimal consumption program. (Copyright: Elsevier) …

This paper analyzes how information-processing limitations affect consumption in a dynamic full-fledged non … model is that consumption responses to wealth shocks are asymmetric, with negative shocks producing faster and stronger … volatility of consumption behavior. (Copyright: Elsevier) …

functions with a habit then gives rise to a puzzle of consumption volatility in place of the asset pricing puzzles when agents … can choose consumption and labor optimally in response to more fundamental shocks. We show that the consumption reaction … to technology shocks are too small by an order of magnitude when a utility includes a consumption habit. Moreover, once a …

Micro data over the life cycle show different patterns for consumption for housing and non-housing goods: The … consumption profile of non-housing goods is hump-shaped, while the consumption profile for housing first increases monotonically … and then flattens out. These patterns hold true at each consumption quartile. This paper develops a quantitative, dynamic …

This paper presents an analysis of the trends in inequality across income, earnings and consumption in Britain since …