We use repeated cross-sections of the Survey of Consumer Finances (SCF) to study the effect of self-reported transitory income shocks on household food spending. The self-reported shocks in the SCF are derived from survey questions about the gap between actual and "normal" income. This approach stands in contrast to existing income shock measures in the literature, which are generally derived from the residuals of estimated earnings or income equations.
The Effect of Self-Reported Transitory Income Shocks on Household SpendingSamuel Ackerman, John Sabelhaus ,
FEDS Working Paper