The purpose of this Paper is to test for the presence of habit formation in consumption decisions using household panel … investigate if the relationship between current and past consumption reflects habits or heterogeneity. Our results confirm the … importance of accounting for fixed effects when analysing intertemporal consumption decisions allowing for time non …

This paper provides evidence on the relevance of the collection mode for the analysis of consumption data for the … figures from consumption reports obtained with diaries markedly differ from those obtained using recall data. We then exploit … features of the distribution of consumption (not just its mean). Finally, we show how to purge the expenditure measurements …

In this paper we use unit roots/cointegration analysis and time-varying parameters procedures to test for a common …

We develop a consumption-based present value relation that is a function of future dividend growth. Using data on … aggregate consumption and measures of the dividend payments from aggregate wealth, we show that changing forecasts of dividend …

This Paper uses restrictions implied by cointegration to identify the permanent and transitory elements (the ‘trend … consumption adapt with a lag to permanent movements in wealth? Despite their quantitative importance, transitory fluctuations in … asset values are found to be unrelated to aggregate consumer spending. Instead, aggregate consumption can be well described …

takes into account endogenous reactions and consumption smoothing of households. We use the methodology to study the impact …

on how many hours to work with obvious consequences for the household budget. We therefore model consumption and labor …