This paper provides instrumental variables estimates of the response of aggregate private consumption to transitory … transitory shocks to aggregate output on private consumption in poor countries. …

This paper provides instrumental variables estimates of the response of aggregate private consumption to transitory … transitory shocks to aggregate output on private consumption in poor countries. …

than crowding-out private consumption in the short run. We explore the robustness of this mechanism to the existence of …

global economic woes is a ¡°consumption driven growth model¡± (which China advocates but has yet to fully implement) because … when there is insufficient consumption, excess savings will remain idle, seek a return from rent or deception, or fund …>Fiscal Policy</li> <li>Trade Policy</li> <li>Currency Policy</li> <li>China and Export Versus Consumption-Driven Growth</li> <li …

the optimal and actual consumption smoothing current accounts. Findings – Based on vector autoregressive model, it was … (insignificant) deviation between the actual and the estimated consumption-smoothing current account. The results show that the … hypothesis of full-consumption smoothing could not be rejected by the data for the full sample period, implying that the degree …

While most of the literature explaining the change in consumption composition has focused on the role of relative …

We build a panel of 14 emerging economies to estimate the magnitude of wealth effects on consumption. Using modern …