Non-durable consumption and housing net worth in the Great Recession: Evidence from easily accessible data

Evidence from the Great Recession

Life Cycle Consumption and the Great Recession

Using Italian Household Budget Survey data for the period 1997-2013, this paper estimates the life cycle profiles of consumption and cross-sectional variance in the Great Recession. The study examines age profiles for total and durable expenditure, and four subcomponents of non-durable expenditure. We document significant heterogeneity in the way the recession affects consumption and the varian...

Unemployment and the US Housing Market during the Great Recession∗

This paper evaluates the role of unemployment scarring and fear thereof for the recent U.S. housing bust. I study a quantitative lifecycle model of the housing market, which features an income process that is consistent with the large and long-lasting impact of unemployment on future earnings documented in recent empirical work. The model features exogenous moving shocks consistent with survey ...

The Great Recession and the Social Safety Net.

The social safety net responded in significant and favorable ways during the Great Recession. Aggregate per capita expenditures grew significantly, with particularly strong growth in the SNAP, EITC, UI, and Medicaid programs. Distributionally, the increase in transfers was widely shared across demographic groups, including families with and without children, single-parent and two-parent familie...

Changes in Safety Net Use During the Great Recession.

* Anderson: Department of Economics, Dartmouth College, 6106 Rockefeller Hall, Hanover, NH 03755, and NBER (e-mail: [email protected]); Butcher: Department of Economics, Wellesley College, Pendleton East, 106 Central Street, Wellesley, MA 02481, and NBER (e-mail: [email protected]); Schanzenbach: Institute for Policy Research, Northwestern University, 2040 Sheridan Road, Evansto...