Papers written by Author(s): 'Jonathan Fisher'
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Viewing papers 1 through 5 of 5
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Working PaperThe Two-Income Trap: Are Two-Earner Households More Financially Vulnerable?
June 2019
Working Paper Number:
CES-19-19
We test whether two-earner married couples are more likely to file for consumer bankruptcy in the future than similar married couples. Since two-earner households are unable to adjust their income on the extensive margin, they are more vulnerable to income shocks, and thus at risk of bankruptcy in the future. We find that two-earner married couples in 1999 are more likely to file for bankruptcy from 2002-2004 compared to other married couples. Additionally, we present supporting information that suggests that two-earner households have a higher average propensity to consume.View Full Paper PDF
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Working PaperSocial Influence and the Consumer Bankruptcy Decision
January 2017
Working Paper Number:
CES-17-60
I examine the influence of neighbors on the consumer bankruptcy decision using administrative bankruptcy records linked the 2000 Decennial Census. Two empirical strategies remove unobserved common factors that affect identification. The first strategy uses small geographical areas to isolate neighborhood effects, and the second strategy identifies the effect using past bankruptcy filers who moved states. The findings from both strategies reinforce each other and confirm the role of social influence on the bankruptcy decision. Having a past bankruptcy filer move into the block from a different state increases the likelihood of filing by 10 percent.View Full Paper PDF
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Working PaperWho Files for Personal Bankruptcy in the United States?
January 2017
Working Paper Number:
CES-17-54
Who files for bankruptcy in the United States is not well understood. Previous research relied on small samples from national surveys or a small number of states from administrative records. I use over 10 million administrative bankruptcy records linked to the 2000 Decennial Census and the 2001-2009 American Community Surveys to understand who files for personal bankruptcy. Bankruptcy filers are middle income, more likely to be divorced, more likely to be black, more likely to have terminal high school degree or some college, and more likely to be middle-aged. Bankruptcy filers are more likely to be employed than the U.S. as a whole, and they are more likely to be employed 50-52 weeks. The bankruptcy population is aging faster than the U.S. population as a whole. Lastly, using the pseudo-panels I study what happens in the years around bankruptcy. Individuals are likely to get divorced in the years before bankruptcy and then remarry. Income falls before bankruptcy and then rises after bankruptcy.View Full Paper PDF
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Working PaperOccupation Inflation in the Current Population Survey
September 2012
Working Paper Number:
CES-12-26
A common caveat often accompanying results relying on household surveys regards respondent error. There is research using independent, presumably error-free administrative data, to estimate the extent of error in the data, the correlates of error, and potential corrections for the error. We investigate measurement error in occupation in the Current Population Survey (CPS) using the panel component of the CPS to identify those that incorrectly report changing occupation. We find evidence that individuals are inflating their occupation to higher skilled and higher paying occupations than the ones they actually perform. Occupation inflation biases the education and race coefficients in standard Mincer equation results within occupations.View Full Paper PDF
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Working PaperDoes the Retirement Consumption Puzzle Differ Across the Distribution?
March 2011
Working Paper Number:
CES-11-09R
Previous research has repeatedly found a puzzling one-time drop in the mean and median of consumption at retirement, contrary to the predictions of the life-cycle hypothesis. However, very little is known as to whether these effects vary across the consumption distribution. This study expands upon the previous work by examining changes in the consumption distribution between the non-retired and the retired using quantile regression techniques on pseudo-cohorts from the cross-sectional data of the 1990-2007 Consumer Expenditure Survey. The results indicate that there are insignificant changes between these groups at the lower end of the consumption distribution, while there are significant decreases at the higher end of this distribution. In addition, these changes in the distribution are gradually larger in magnitude when moving from the lower end to the higher end, which is found using several different measures of consumption. Work-related expenditures are instead shown to decrease uniformly across the consumption distribution. This evidence reveals that there is a progressive distributional component to the retirement consumption puzzle.View Full Paper PDF
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