rich followed a similar pattern, the result of wealth effects associated with a boom-bust in asset prices. Indeed, the … swings in saving by the rich must actually have played the most important role in the consumption boom-bust, since since the … top 10 percent account for almost half of income and two-thirds of wealth. In other words, the rich played a critical role …

. Finally, it also searches for commonalities and differences in behavior across national, private, household, and corporate …

-2009. After testing five fiscal measures - government expenditure, consumption, investment, non-oil revenue, and non-oil primary …

sharing comes mostly from the convergence in rates of consumption growth among countries rather than from synchronization of … consumption at the business cycle frequency. Our finding explains why many existing measures fail to detect improved risk sharing …

We estimate consumption dynamics in the G-7 economies, paying particular attention to the possibility of precautionary … consumption growth. As such, consumption in the G-7 economies is unlikely to be the engine that revives global growth. Differences … in the pace and timing of consumption moderation have implications for the evolution of global imbalances. With the U …