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 …

This paper documents that region-level consumption exhibits excess sensitivity to lagged income in Italy, Japan, Spain …, the United Kingdom and West Germany. However, region-specific idiosyncratic) consumption exhibits substantially less …

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 …

-2003. Tests for Unit Roots and Cointegration are carried out and it is discovered that a long run equilibrium relationship between …

stationarity, integration and cointegration, that continues by the appreciation of the multilateral and bilateral causality among …

stationarity, integration and cointegration, that continues by the appreciation of the multilateral and bilateral causality among …

's (1992) conditional ECM- based t-test for no-cointegration with a single prespecified cointegrating vector. This alternative …-test with a prespecified cointegrating vector can have much higher power than single equation tests for cointegration based on …