of a consumption Euler equation, which is augmented by endogenous credit constraints. Several empirical findings emerged …. First, households coped with the negative shocks by reducing consumption of luxury items while maintaining food, education …, and health-related expenditures. Second, the estimated results suggest that the standard consumption Euler equation, i …

Consumption is partly a social activity, yet most studies of consumer behavior treat households in isolation. We … investigate familial relationships in consumption patterns using a sample of parents and their children from the Panel Study of … Income Dynamics. We find a positive and statistically significant parent-specific effect on children¹s consumption even after …

efficiently with aggregate market data, and permit inferences on the impacts of policies on consumption and economic welfare for …

paper, we examine the effects of income taxes and government consumption on output variability in several versions of … returns in production, utility logarithmic in both consumption and leisure, and government borrowing, income taxes are … logarithmic in consumption and convex in hours worked. That is, income taxes are now stabilizing and government purchases are …

Recent empirical evidence suggests that private consumption is crowded-in by government spending. This outcome violates … should decrease consumption. In this paper, we develop a simple real business cycle model where preferences depend on private …. This feature enables the model to generate a positive response of consumption following a government spending shock. In …