The life-cycle theory of consumption draws a well-established distinction between the implications for consumption of …' price expectations are influencial in determining the consumption repsonse to shocks. …

decision to deleverage has negative implications for household consumption. …

housing wealth exerts a positive influence on consumption. Whilst informative, the aggregate results not allow us to identify … therefore used to assess whether behaviour at the household level can further explain consumption trends at the aggregate level …. We observe a strong correlation between house price levels and consumption for young, middle- and older-aged cohorts. The …

that these predictable changes in returns should affect current consumption. This paper presents a new framework linking … consumption, income, and observable assets to expectations of future asset returns. Relative to previous work on this topic, the …

private consumption can substantially increase spending multipliers. Government investment, by raising productive public …-movement between private and government consumption. Finally, spillovers from a fiscal stimulus in one region of a monetary union …