This paper presents some preliminary findings from Wave 5 of the Innovation Panel (IP5) of Understanding Society: The UK Household Longitudinal Study. Understanding Society is a major panel survey in the UK. In February 2012, the fifth wave of the Innovation Panel went into the field. IP5 used a...

To date, face-to-face interviewing has been the primary mode of data collection for Understanding Society. There may be advantages in instead collecting data online where possible. Primarily, this should bring a reduction in data collection costs. There are, however, concerns that response rates...

This paper presents some preliminary findings from the Wave 4 Innovation Panel (IP4) of Understanding Society: The UK Household Longitudinal Study. Understanding Society is a major new panel survey for the UK. In March 2011, the fourth wave of the Innovation Panel was fielded. This paper...

This paper presents some preliminary findings from the Wave 3 Innovation Panel (IP3) of Understanding Society: The UK Household Longitudinal Study. Understanding Society is a major new panel survey for the UK. In April 2010, the third wave of the Innovation Panel was fielded. This paper...

Job losers exhibit significant heterogeneity in wealth holdings and in the marginal propensity to consume transitory income. We consider potential sources of this heterogeneity, whether (some of) the unemployed face borrowing constraints, and the implications of this heterogeneity for...

<p>This paper shows that a power utility specification of preferences over total expenditure (ie. CRRA preferences) implies that intratemporal demands are in the PIGL/PIGLOG class. This class generates (at most) rank two demand systems and we can test the validity of power utility on cross-section...</p>

Unemployment insurance is more valuable when self-insurance is more diffcult. Self-insurance is more viable when the cost of borrowing and the cost of saving are low. The cost of savings depends on the timing of income and the timing of needs, as well as private and market discount rates....

The aim of this paper is to understand what a recession means for individual consumers, and to model in a life-cycle framework how individuals respond to recessions. Our focus is on the sharp increase in savings rates that have been observed in the current and recent recessions. We show...