We study how homeowners' consumption responds to a negative and anticipated disposable income shock: the beginning of … the amortisation period on interest-only mortgages. We identify spending behavior through an event study approach, by … matching loan-level data that covers the universe of Danish mortgages to detailed administrative registries on borrowers. In …

Using a macro quantile factor model, we examine cross-state (i.e., cross-quantile) heterogeneity in consumption … behaviors. We find that common macro factors generate a “big bang/crunch” effect on micro consumption. Generally speaking, when … the aggregate effect of the common factors on the consumption in low consumption-growth states is negative (resp. positive …

consumption-saving behavior. We construct a novel consumption-saving model where the household must infer the persistent component … marginal propensity to consume because the short run covariance between income growth and consumption growth increases when … can be identified from panel data on income and consumption. Finally, we estimate a high degree of knowledge in the Panel …

estimate a structural model of life-cycle consumption and credit use in which credit cards can be used for payments …

We show individuals investments chase stock index returns and are financed by foregoing consumption, even after … foregone consumption occurs in the week after stock index returns are realized and are more pronounced for luxuries than … consumption, more consistent with theories of extrapolative expectations and loss aversion …

Recent studies of economic inequality almost always separately examine income, consumption, and wealth inequality and …-wealth households cannot smooth consumption as much as other households do, which further implies that increasing wealth inequality … likely reduces aggregate consumption and limits economic growth …

estimation, we find individual consumption to depend on personal beyond national headline inflation. Foreign shocks to selected … goods’ inflation affect disproportionately households with greater consumption basket weights on these goods and make them … increase consumption by an extra 1.3% per percentage point of higher inflation exposure, financed with more net borrowing …

to account for anticipation effects on consumption. We investigate this using high-frequency spending and balance sheet … data from a major Danish bank. We examine the behavior of borrowers with adjustable rate mortgages, and exploit that the … with a standard buffer-stock consumption model, and implies that it is less effective to target stimulus to low liquidity …

continuous-time consumption-savings model and demonstrate that this behavior is optimal in the presence of shopping trip fixed …