Many argue that the astonishing growth in Americans' stock portfolios in the 1990s has been
a major force behind the growth of consumer spending. This article reviews the relationship …

The study of household finance is challenging because household behavior is difficult to
measure, and households face constraints not captured by textbook models. Evidence on …

This paper investigates the efficiency of household investment decisions using
comprehensive disaggregated Swedish data. We consider two main sources of inefficiency …

This paper asks how a household should choose between a fixed-rate (FRM) and an
adjustable-rate (ARM) mortgage. In an environment with uncertain inflation a nominal FRM …

This paper investigates the dynamics of individual portfolios in a unique data set containing
the disaggregated wealth of all households in Sweden. Between 1999 and 2002, we …

This paper explores the link between changes in the aggregate value of corporate stock and
changes in consumer spending. It presents data on the distribution of corporate stock …

This paper develops first measures of housing sentiment for 34 cities across the United
States by quantifying the qualitative tone of local housing news. Housing media sentiment …

The strong rise in home prices since the mid-1990s has raised concerns over a possible
bubble in the housing market and the effect of a sharp price decline on the US economy …

In this paper we investigate whether a standard life-cycle model in which households
purchase nondurable consumption and consumer durables and face idiosyncratic income …

This paper describes subprime lending in the mortgage market and how it has evolved
through time. Subprime lending has introduced a substantial amount of risk-based pricing …