When surveys rely on repeat participants, this raises the possibility that survey participation
may affect future responses, perhaps by prompting information acquisition between survey …

To match aggregate consumption dynamics, macroeconomic models must generate “excess
smoothness” in consumption expenditures. But microfounded models are calibrated to …

Abstract Models of microeconomic consumption (including those used in HA-macro models)
typically calibrate the size of income risk to match panel data on household income …

This study examines the roles of net worth and income in extending unsecured credit limits.
Using the Survey of Consumer Finances between 2004 and 2016, we estimate the credit …

This dissertation is going to empirically study household inflation expectations and inflation.
Inflation expectations and inflation play a central role in economic dynamics. For example …

This study examines the determinants of households' unsecured credit limits using the
Survey of Consumer Finances published between 2004 and 2016. We estimate the …

Abstract Since Campbell and Deaton [1989] macroeconomists have known that aggregate
consumption exhibits “excess smoothness” compared to benchmark models. But a large …

Macroeconomic models often invoke consumption “habits” to explain the substantial
persistence of aggregate consumption growth. But a large literature has found no evidence …

Macroeconomic models often invoke consumption habits to explain the substantial
persistence of macroeconomic consumption growth. But a large literature has found no …