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 …

-rich households consume a larger share of their current income when exposed to a higher top income and consumption levels. We argue …

that credit and insurance markets are also more developed in the North than in the South, existing theories of consumption …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 …

properties of the estimated consumption/portfolio rules, under both the empirical and the true dynamics of excess returns. The … consider, the estimation issues are so severe that simple unconditional consumption and portfolio rules actually outperform (in …

This paper sheds new light on the interactions between business cycles and the consumption distribution. We use CEX … consumption data and a factor model to characterize the cyclical dynamics of the consumption distribution. We first establish that … our approach is able to closely match business cycle fluctuations of consumption from the National Account. We then study …

Using data on the production and usage of cotton, the paper develops estimates for the production and consumption of … textiles and consumption of textiles, and (c) consumption of clothing in India in relation to the rest of the world. …

Australian data, we model non-price credit supply conditions within equilibrium correction models of consumption, house prices …, but also interact with key economic variables. We show that credit conditions impact on consumption by: (i) lowering the …Changes in credit market architecture are an important but unobservable structural influence on economic activity. For …

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 …

Consumption and Investment are significantly and negatively affected by all terror indicators, and the largest impact is …

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 …