This preliminary note investigates perception bias: To what extent do individual opinions confound reality? We estimate the relative gap between self-declared estimates and real data. We asked a sample of Philippine respondents about the incidence of diabetes and smartphone usage in their...

We develop a new quantile-based panel data framework to study the nature of income persistence and the transmission of income shocks to consumption. Log-earnings are the sum of a general Markovian persistent component and a transitory innovation. The persistence of past shocks to earnings is...