(BEER) and a Permanent Equilibrium Exchange Rate (PEER). Four different model specifications are retained, due to the …

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 …

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 …

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 …

periodically but make consumption decisions on a more frequent basis. The model incorporates price uncertainty and imperfect credit … markets. The simulated numerical solution to this model shows that weekly consumption functions are ordered such that the …

study the impact of risk and the public sector on consumption-wealth ratio, growth and welfare, given the exogenous size of … the public sector. A higher weight of public consumption in the utility function raises the rate of growth due to a fall … in the consumption-wealth ratio. Then we show that consumptionwealth ratio and welfare are higher in an open economy than …

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 …