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 …

, can explain this disparity. In this chapter we present some estimates of the loss of consumption suffered by unemployed …

growth expectations? 4) What is the potential of such expectation changes for explaining the volatility of consumption to …

If some consumers are liquidity-constrained, aggregate consumption should be ‘excessively sensitive’ to credit … United Kingdom and the United States, we find a substantial impact of credit aggregates on consumption in all countries … considered. Moreover, the borrowing/lending wedge is a significant determinant of consumption in Canada, Japan and the United …

Risk premia in the consumption capital asset pricing model depend on preferences and dividends. We develop a … elasticity of a preference-based stochastic discount factor for pricing assets with respect to the consumption innovation … correlated with individual consumption. …

This paper investigates the implications of budgetary policies for consumption and economic growth. We present a model … a rise in government debt, financed by lump-sum taxes, increases the share of private consumption to national income and … reduces the long-run growth rate. We also show that a rise in government consumption financed by lump-sum taxes reduces both …

We estimate Euler equations for a number of countries and find that the excess sensitivity of consumption to current …

This paper uses household surveys from 13 developing countries to describe consumption choices, health and education … daily consumption per capita is between $2 and $4 or between $6 and $10. The data shed lights on differences and … have fewer, healthier, and better educated children. While there are clear differences in consumption patterns between the …

This paper investigates the causes of the Italian consumption bust of the early 1990s by estimating deviations from … 'normal' consumption using household level data for 1985-94. The data set used is a particularly rich, but as yet unexplored … households each year. The main findings are that the decline in consumption was larger for the working age households. The fall …

In this paper we analyse the relationship between unemployment and consumption. We study this relationship with panel … smaller consumption losses in Spanish and Italian households. We discuss this finding in the light of different market and … that credit and insurance markets are also more developed in the North than in the South, existing theories of consumption …