NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Trickle-Down Consumption

Marianne Bertrand, Adair Morse

NBER Working Paper No. 18883
Issued in March 2013

---- Acknowledgements -----

We thank Chris Carroll, Ulrike Malmendier, and Jonathan Parker for helpful comments. We also would like to thank seminar participants at the AEA, NBER Economics of Household Savings, Chicago Booth, Harvard University, Harvard Business School, Princeton University, EIEF, University of California at Berkeley - Haas, Northwestern - Kellogg, NBER Summer Monetary Economics, and UC Davis Household Finance Conference for helpful comments. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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