美联储：收入冲击及其向消费的传导（英文版）

Measuring how household consumption responds to income shocks is important for understanding how families cope with adverse events, for designing government insurance or other income support policies, and for understanding the transmission of business cycles and monetary policy. It is also important for evaluating the effects of fiscal or labor market reforms on consumer welfare and for examining the way these reforms may affect the macroeconomy given that consumption is a large share of gros