We review different empirical approaches that researchers have taken to estimate how
consumption responds to income changes. We critically evaluate the empirical evidence on …

This chapter is concerned with the identification and estimation of models of labor supply.
The focus is on the key issues that arise from unobserved heterogeneity, nonparticipation …

A wide body of empirical evidence finds that approximately 25 percent of fiscal stimulus
payments (eg, tax rebates) are spent on nondurable household consumption in the quarter …

We use sizable lottery prizes in Norwegian administrative panel data to explore how
transitory income shocks are spent and saved over time and how households' marginal …

The book takes a broad view of the subject matter of acroeconomics. A substantial portion of
the book is devoted to economic growth, and separate chapters are devoted to the natural …

We measure the change in household spending caused by receipt of the economic stimulus
payments of 2008, using questions added to the Consumer Expenditure Survey and …

The wealthy hand-to-mouth are households who hold little or no liquid wealth (cash,
checking, and savings accounts), despite owning sizable amounts of illiquid assets (assets …

This paper uses a unique panel dataset of consumer financial transactions to study how
consumers respond to an exogenous unanticipated income shock. Consumption rose …

In a model calibrated to match micro‐and macroeconomic evidence on household income
dynamics, we show that a modest degree of heterogeneity in household preferences or …

Using questions expressly added to the Consumer Expenditure Survey, we estimate the
change in consumption expenditures caused by the 2001 federal income tax rebates and …