lending. Financial transfers in the form of worker remittances have received less attention in this context. This paper … provides an analysis on the magnitude of remittances, their volatility, and their relationship to other capital flows. Moreover …, we provide empirical evidence on the determinants of remittances and private capital flows. …

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 …

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 …

of the labor market such as the matching technology that pairs vacancies with unemployed workers. We estimate on US data …