We use an unusually rich Canadian survey to examine how post-job-loss behaviour and outcomes vary with age of the job loser. We find that older job losers experience greater post-displacement joblessness, and are less likely to return quickly to satisfactory employment. We show that this...

We use direct evidence on credit constraints to study their importance for household consumption growth and for welfare. We distentangle the direct effect on consumption growth of a currently binding credit constraints from the indirect effect of a potentially binding credit constraint which...