000			01479nam a2200253Ia 4500
008			240826s9999||||xx |||||||||||||| ||und||
022			_a0034-6535
100			_a Liu, Yu-Jane _9120450
100			_a Meng, Juanjuan _9120451
100			_a Zhang, Yu _9120239
100			_a2024 _9120452
100			_aJin, Miao _9120453
245		0	_aTransmission of Income Variations to Consumption Variations: The Role of the Firm
260			_bThe Review of Economics and Statistics
260			_c2024
300			_a423-436
520			_aWe use matched employer-employee data to study the role of the firm in the transmission of income growth into consumption growth. We find that growth in income relative to the firm average (the within-firm component) translates significantly less into consumption than growth in firm average income (the between-firm component). These findings are explained by the lower persistence of the within-firm component of income, better self-insurance for workers more exposed to variations in income growth from the within-firm component, and peer effects in the workplace. Quantitatively, income persistence provides 43% of the explanatory power, self-insurance provides 35%, and peer effects provide 22%.
650			_a Consumption Growth _9120454
650			_a Consumption Variations _9120455
650			_a Demography
650			_a Income Inequality _99149
650			_aIncome Growth _9120456
856			_uhttps://doi.org/10.1162/rest_a_01157
999			_c133711 _d133711