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 …

participation in the stock market and heterogeneity in the elasticity of intertemporal substitution in consumption. The parameter …

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 …

This paper investigates the usefulness of Italian consumer surveys as estimation and forecasting tool over the period … 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 …

trends in output, consumption and investment) to provide new evidence on this question(using subsaharan africa as a case …

This paper assesses the information content of two survey indicators for consumption developments in the near future … confidence, the perceptions of buyers of consumption goods. This paper examines whether perceptions of sellers of consumption … goods, measured by retail trade surveys, may also improve short-term monitoring of consumption. We find that both consumer …