If access to credit is limited (especially when young or unemployed) but "bad" jobs are easy to come by, then job seekers might use short term employment in undesirable jobs as a way to finance consumption during subsequent unemployed search for a "good" job. In this paper we explore this idea...

The costs of involuntary job loss are of substantial research and policy interest. We consider the measurement of the cost of job displacement with household expenditure data. With a Canadian panel survey of individuals who experienced a job separation, we compare the consumption growth of...

The costs of involutary job loss are of substantial research and policy interest. We consider the measurement of the cost of job displacement with household expenditure data. With a Canadian panel survey of individuals who experienced a job separation, we compare the consumption growth of...

We use survey data to investigate how urban households in Ethiopia coped with the food price shock in 2008 and idiosyncratic shocks.  Qualitative data indicate that the high food price inflation was by far the most adverse economic shock between 2004 and 2008, and that a significant proportion...

In pre-industrial economies labour supply curves often bend backwards at very low levels of income.  This changed prior to the industrial revolution: total working hours increased (De Vries (1993), Voth (1998, 2000)).  This paper examines this industrious revolution using a model of labour...

After the global financial crisis, there is greater awareness of the need to understand the interactions between the financial sector and the real economy and hence the potential for financial instability.  Data from the financial flow of funds, previously relatively neglected, are now seen as...

Despite the well-documented increase in the relative wages and expenditures of highly-educated individuals in the U.S. in recent decades, leisure inequality mirrors inequality of wages, i.e. we observe that highly-educated individuals have now relatively less leisure time than lower-educated...

Intertemporal preferences are difficult to measure. We estimate time preferences using a structural buffer stock consumption model and the Method of Simulated Moments. The model includes stochastic labor income, liquidity constraints, child and adult dependents, liquid and illiquid assets,...