evidence presented shows that both household and consumer credit cointegrate with consumption expenditure and disposable income … credit depletes the habit stock and motivates consumers towards a more forward-looking behaviour. The Johansen (1988) and …

The paper formalizes a conflict in the use of credit. As compared to using costless fiat, the consumer's use of credit … planner to increase welfare by restricting exchange credit. …

This paper proposes an asymmetric model within which consumer credit facilitates both consumption smoothing and … suggests that new credit can predict short-run changes in consumption and has assisted consumers to become more forward …

This paper examines the pattern of income changes over the life cycle for both males and females, using information …

that the income component in the index only role is to distort the allocation between health and education expenditure …. Because the income component does not play its intended role of securing resources for a decent standard of living, we argue … that it is better to drop income from the index in considering optimal plans. Alternatively, we consider net income, income …