The effect of unemployment on consumption: an experimental analysis

27 Jan 2012

&##160;In this file the data are arranged in 14 columns.

column 1: the overall subject number (from 1 to 96)
column 2: the parameter set (from 1 to 16)
column 3: the subject number within each parameter set (from 1 to 6)
column 4: the period (from 1 to 25)
column 5: the subject''s consumption
column 6: the subject''s income
column 7: the subject''s wealth
column 8: the scenario 1 level of consumption (see the text)
column 9: the optimal (scenario 2) consumption
column 10: the optimal wealth (following the fully optimal - scenario 2 - consumption strategy
column 11: the value of the parameter p (the probability of remaining employed)
column 12: the value of the parameter q (the probability of becoming employed)
column 13: the value of the parameter y (the income when employed)
column 14: the value of the parameter r (the rate of return on saving)

Each row applies to a particular period for a particular subject on a particular parameter set.
There are 25 (number of periods) times 16 (number of parameter sets) times 6 (number of
subjects on each parameter set) = 2400 rows.