over 13 years, our study sheds light on the high-frequency consumption response to monetary policy through changes in fast … arising from a natural experiment and high-frequency monetary policy instruments. We find a substantial shortrun consumption … cut consumption by 1 − 1.5 percent of income within a year of a 1 percentage point policy rate hike. Our results imply a …

debtors reduce consumption expenditures approximately one-for-one with increased debt service, suggesting binding liquidity …

This paper studies the consumption response to an increase in the domestic value of foreign currency household debt … during a large depreciation. We use detailed consumption survey data that follows households for four years around Hungary …'s 2008 currency crisis. We find that, relative to similar local currency debtors, foreign currency debtors reduce consumption …

We document systematic and significant time variation in US lifecycle nondurable consumption profiles. Consumption … profiles have consistently become flatter: intergenerational differences in consumption across age groups have decreased over … heterogeneity masks relevant time variations and may artificially generate hump-shaped consumption age profiles. The main driver …

This chapter reviews empirical estimates of differential income and consumption growth across individuals during … recessions. Most existing studies examine the variation in income and consumption growth across individuals by sorting on ex ante … or contemporaneous income or consumption levels. We build on this literature by showing that differential shocks to …

I examine 2,735 estimates of the elasticity of intertemporal substitution in consumption (EIS) reported in 169 …