housing net worth on household expenditures during the Great Recession. Their widely-cited estimates are based on proprietary … specification on our data, we obtain values for the elasticity of expenditures to the housing net worth shock that are virtually … conclusions about the separate roles of house prices and initial housing exposure/leverage for the drop in expenditures. Moreover …

commodity groups. Consumption is a distributed lag function of expenditures, and the utility function is additively separable in … each commodity group, expected change in expenditures is correlated neither with past expenditure changes on other …

What determines remittances – altruism or enlightened self-interest - and do remittances trigger additional migration …, receipt of remittances may contribute to new flows of migration, in particular in the case of Morocco. … effects on receipt of remittances than net earnings potential of households in the country of origin. Second, the receipt of …

whose societal conditions strongly improved by migration and immigrants who arrived after childhood. Faltering societal …

Mankiw [1982] explores the Permanent Income Hypothesis implication that durable expenditures follow an ARMA(1 …,1) representation. He finds that durable expenditures are represented by an AR(1) process which implies that the rate of depreciation of …