Professor Thomas F. Crossley

Using survey data spanning multiple house-price cycles over nearly forty years, this paper documents the association between house prices and homeownership at age thirty.

We use these data and earlier ELSA waves first to document the effect of the crisis on the finances of those aged 50 and over in England, and second, to estimate the effect of wealth shocks on household consumption and individual expectations of the future.

We use direct evidence on credit constraints to study their importance for household consumption growth and for welfare.

This report looks at evidence on policies to encourage household saving. The report examines in detail what is known - and what is not known - about the effectiveness of four types of intervention designed to raise saving by households: financial incentives; education; choice architecture; and social marketing.

This paper examines trends in household consumption and saving behaviour in each of the last three recessions in the UK.

We study the UK Winter Fuel Payment (WFP) and find robust evidence of a behavioural effect of the labelling.

We find evidence that the poorest of older households are unable to smooth spending over the worst temperature shocks.

We show in a tractable life-cycle model how the optimal unemployment replacement ratio and the fall in consumption on job loss depend on the cost of self-insurance and the cost of borrowing.

We show that lottery players display higher income effects than non-players but only amongst those likely to be credit constrained.

In all common models of inter-temporal allocation, the assumption of a constant elasticity of intertemporal substitution (EIS) imposes surprising limitations on within-period budget allocations.

This paper offers an introduction to research using consumption measures derived from Statistics Canada's household expenditures surveys to study material well-being, inequality, and poverty.