Do cognitive biases call for regulation to limit the use of credit? We incorporate over-optimistic and rational borrowers into an incomplete markets model with consumer b[...]

Aggregate events often start locally with households learning about the unfolding of events through social communication. Using plausibly exogenous variation in counties’[...]

We study the effects of uncertainty on time use and their macroeconomic implications. Employing data from the American Time Use Survey and the Bureau of Labor Statistics,[...]

Using household-level data from the Canadian Survey of Consumer Expectations over 2014Q4–2023Q2, we study wage growth expectations and their link with inflation expectati[...]

We study optimal monetary policy in an analytically tractable Heterogeneous Agent New Keynesian model with rich cross-sectional heterogeneity. Optimal policy differs from[...]

The data and programs replicate tables and figures from "The heterogeneous effects of COVID-19 on Canadian household consumption, debt and savings", by MacGee, Pugh and S[...]

The data and programs replicate tables and figures from "Consumer credit usage in Canada during the coronavirus pandemic", by Ho, Morin, Paarsch and Huynh. Please see the[...]

The recent COVID‐19 pandemic has devastated economies worldwide. Using detailed, monthly data from a major consumer credit reporting agency in Canada, we have examined in[...]

This paper develops an agent‐based model to quantify the impact of COVID‐19 on household debt and savings. To build a representative cross‐section of households that vary[...]

Prospective economic developments depend on the behavior of consumer spending. A key question is whether private expenditures recover once social distancing restrictions [...]