This paper develops a method to estimate jointly the degree of (possibly incomplete) intertemporal consumption … improves upon studies that either examine only intertemporal consumption smoothing, or analyze risksharing by making an extreme … assumption on intertemporal consumption smoothing, or by adopting a purely empirical framework. The method is applied to the US …

change in asset or portfolio return affects household’s consumption growth, using a sample of households from the Consumer … Expenditure Survey. Since changes in housing return can affect consumption of households over time, we investigate whether the … affects consumption growth, and housing is an important asset to account for in the household portfolio. …

’s consumption growth. The estimates obtained using real after-tax composite return are about 0.15-0.3 and are more robust to linear … and nonlinear estimations, different consumption measures, and various time periods than those obtained by using …

1982-2003. To this end, standard consumption equations are estimated and then compared, in terms of in-sample and out … about the i) current, ii) future, iii) general, and iv) personal situation. In turn, the total private consumption is … household surveys improves both the goodness- of-fit of consumption equations and their forecasting performances. It is …

analytical solution to the model, we solve it numerically. We find that nondurable consumption becomes more volatile as down … adjustment of consumption to permanent income shocks in an attempt by agents to spread out the burden of down payments over time. …

that in a habit formation model, the sensitivity of consumption to predicted income can be largely reinterpreted as a … sluggish response to news. Moreover, the sensitivity of consumption to sentiment reflects the serial correlation in consumption …

future consumption and savings. . Although the motion of the consumer confidence index is of interest to both policymakers … consumption expenditure of Hungarian households. Our results suggest that, in addition to macro variables, the consumer confidence …