, Canada, Japan, and the UK. We identify shocks in government consumption, investment, vacancies and government wages in a SVAR … consumption and investment demand. On the other hand, government wage cuts are the least destructive device for cutting the budget. …

consumption and investment, with no evidence of crowding out. The impact multiplier is 1.7 and the long run multiplier is 0.6. …

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 …

The consumption behaviour of UK, US and Japanese households is examined and compared using a modern Ando …-Modigliani style consumption function. The models incorporate income growth expectations, income uncertainty, housing collateral and … credit availability for UK and US but not Japanese households has undergone large shifts since 1980. The average consumption …

There is widespread disagreement about the role of housing wealth in explaining consumption. This paper exploits liquid …, to explain fluctuations in the ratios of consumption and household debt to income in South Africa, from 1971 to 2005. The … variable with key interactions with drivers of consumption and debt. Credit conditions are proxied by a spline function …