How Job Changes Affect People's Lives — Evidence from Subjective Well‐Being Data

How Do House Prices Affect Consumption? Evidence from Micro Data

Housing is a major component of wealth. Since house prices fluctuate considerably over time, it is important to understand how these fluctuations affect households’ consumption decisions. Rising house prices may stimulate consumption by increasing households’ perceived wealth, or by relaxing borrowing constraints. This paper investigates the response of household consumption to house prices usi...

Do Demographic Changes Affect Risk Premiums? Evidence from International Data∗

We examine the link between equity risk premiums and demographic changes using a very long sample over the twentieth century for the US, Japan, UK, Germany and France, and a shorter sample covering the last third of the twentieth century for fifteen countries. We find that demographic variables significantly predict excess returns internationally. However, the demographic predictability found i...

How Subjective Beliefs about HIV Infection Affect Life-Cycle Fertility Evidence from Rural Malawi

How Income Changes During Unemployment: Evidence from Tax Return Data∗

We use a panel of tax returns spanning 1999 to 2011 to provide new evidence on household experiences during unemployment. Unemployment is associated with roughly a 20% reduction in household wage earnings. Unemployment insurance compensates for half of these wage losses. Households also partially compensate by using a variety of income sources. Distributions from retirement accounts increase in...

Housing and children’s development and wellbeing: evidence from Australian data