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Briefing note
This briefing note compares trends in output, consumer spending and saving from the 2020 recession with those from two previous recessions beginning in 1990 and 2008.
IFS Working Paper WP19/29
This paper investigates how diļ¬€erent income shocks shape consumption dynamics over the business cycle. First, we break new ground by creating a unique, panel dataset of transitory and permanent income shocks, using subjective income expectations from the Dutch Household Survey.
Journal article | American Economic Journal: Economic Policy
This paper documents significantly steeper declines in nondurable expenditures at older ages in the United Kingdom compared to the United States, in spite of income paths being similar. Several possible causes are explored, including different employment paths, housing ownership and expenses, ...
IFS Working Paper WP19/24
I characterize how house price shocks affect consumption inequality using a life-cycle model of housing and non-housing consumption with incomplete markets.
IFS Working Paper W18/05
The 1996 PRWORA reform introduced time limits on the receipt of welfare in the United States.