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 …

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 …

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 …

We study whether the level of household indebtedness is related to the interest rate elasticity of private consumption …. Looking at Finnish aggregate data, we find no robust evidence of increased interest rate elasticity of private consumption … period, which may have contributed towards muting the sensitivity of private consumption to interest rates even as aggregate …

consumption, particularly for individuals under the threat of furlough, while simultaneously increasing their account balances … the ability of the standard economic model to accurately predict consumption patterns, although this effect was less …