consumption and investment expenditures, as well as their broadly defined components, are examined. We also test for effects of … money on long run reallocations of consumption expenditures among durables, nondurables, and services. The time series …This paper tests for long run effects of money on real expenditures in the U.S. over the 1959-2002 period. Real …

are found not to equal zero and this in turns affects all estimates of consumption, labor supply and saving elasticities … profit function rationalizing consumption, labor supply and savings is specified, estimated and used to test commonly … maintained separability hypotheses. Both consumption- labor and time separability are rejected. Cross-price Frisch elasticities …

are found not to equal zero and this in turns affects all estimates of consumption, labor supply and saving elasticities. … profit function rationalizing consumption, labor supply and savings is specified, estimated and used to test commonly … maintained separability hypotheses. Both consumption- labor and time separability are rejected. Cross-price Frisch elasticities …

stock' model of optimal consumption in the presence of labor income uncertainty and credit constraints. Saving in the model … saving rate's long-term decline, while fluctuations in net wealth and uncertainty capture the bulk of the business …We argue that the U.S. personal saving rate's long stability (from the 1960s through the early 1980s), subsequent …

output changes. In the euro area investment is the predominant driver of output changes, while in the U.S. consumption shifts … investment, as the proximate cause for this fact, the source of the consumption difference remains a puzzle. JEL Classification … several potential explanations for it. While the evidence seems to point at differences in consumption responses, rather than …

In this paper we examine the link between wage inequality and consumption inequality using a life cycle model that … incorporates household consumption and family labour supply decisions. We derive analytical expressions based on approximations for … the dynamics of consumption, hours, and earnings of two earners in the presence of correlated wage shocks, non …

both, in order to smooth households' consumption across states of nature. In the presence of a deficit constraint for the …

life-time wealth and then the optimal consumption path. The derived model captures precautionary saving, which is dependent … realizations is front loaded, a closed form aggregate consumption function with CRRA preferences is derived. To have a closed form ….S. consumption data. JEL Classification: D11, D12, D82, E21 …

framework for analysing the household flow of funds jointly with consumption. The consumption function incorporates household … interest rates. In a general equilibrium setting, these all have to be endogenised and since households make consumption and … in US saving rate, as well as of the household financial accelerator. Moreover, the models discussed in this paper offer …