The consumption behaviour of UK, US and Japanese households is examined and compared using a modern Ando …-Modigliani style consumption function. The models incorporate income growth expectations, income uncertainty, housing collateral and … credit availability for UK and US but not Japanese households has undergone large shifts since 1980. The average consumption …

There is widespread disagreement about the role of housing wealth in explaining consumption. This paper exploits liquid …, to explain fluctuations in the ratios of consumption and household debt to income in South Africa, from 1971 to 2005. The … variable with key interactions with drivers of consumption and debt. Credit conditions are proxied by a spline function …

Australian data, we model non-price credit supply conditions within equilibrium correction models of consumption, house prices …, but also interact with key economic variables. We show that credit conditions impact on consumption by: (i) lowering the … real activity; and (iii) facilitating intertemporal consumption smoothing. …

This paper models regional earnings and unemployment in the ten regions of Great Britain between 1972 and 1995, paying … persistence in regional unemployment rates. We find no evidence of a negative effect of the overall unemployment rate on the … earnings of men in non-manual, or women in full-time, employment and find a positive effect for women in part-time employment …

analysis has implications for the behavior of aggregate wages in the UK and for the relationship between aggregate unemployment … and unfilled vacancies, which in part reflects mismatch between jobs and people. Our empirical analysis reveals that … the unemployment/vacancies equations. In addition, lagged values of average house prices have a significant 'cost …