. Further, while during earlier parts of our sample both a slowdown in consumption and investment growth contribute to a … decomposition for consumption growth shows that the contribution of stock market volatility becomes negligible as we go from earlier …

the period 1980q1-2011q4. That is, income is more often found to predict consumption and saving than the converse. Our … consumption and by exploring the direction of Granger causality between the two series. We also give evidence that house price … changes played a role in the US income and consumption dynamics, before, during and after the Great Recession. …

consumption, aggregate wealth, and labour income should predict both stock returns and housing returns. We use quarterly data for … temporarily allow consumption to rise. Regarding housing returns, if housing assets are complementary to stocks, then investors … their consumption. …

deviations from the common trend among consumption, aggregate wealth, and labour income, cay, and focus on the implications for … future stock returns to be higher, they will temporarily allow consumption to rise. Regarding housing returns, if housing … substitutes consumption will be temporarily reduced. …

use behavioral economics to improve some of the underpinnings of the New Keynesian model—specifically, consumption, the …

It has long been argued that the anticipations of some future event will impact current consumption and well-being in … model, by assuming that in addition to his own current consumption, an agent’s current utility depends upon a reference … consumption level that is based on expected future consumption. Two alternative specifications of the anticipated future …

its propagation and quantitative importance. Anticipated increases in TFP expected to arrive in the consumption sector are … shocks as a predictive force behind fluctuations. Consumption sector TFP news shocks generate both aggregate and sectoral co …-movement and account for approximately, 31%, 21%, 43%, 29% in the variance of output, investment, hours worked, and consumption …