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. …

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 …

, intertemporal lifecycle consumption optimization problem and the effect of revealing social information on past average consumption … in solving for the optimal consumption path. Instead, we find that the provision of social information on past average … levels of consumption results in a greater deviation of consumption from both the unconditional and the conditionally optimal …

payments (e.g. tax rebates) are spent on non-durable household consumption in the quarter that they are received. We develop a … Finances. A version of the model parametrized to the 2001 tax rebate episode is able to generate consumption responses to …

This paper studies the empirical relationship between consumption and saving under two different sources of uncertainty …