properties of the estimated consumption/portfolio rules, under both the empirical and the true dynamics of excess returns. The … consider, the estimation issues are so severe that simple unconditional consumption and portfolio rules actually outperform (in …

This paper sheds new light on the interactions between business cycles and the consumption distribution. We use CEX … consumption data and a factor model to characterize the cyclical dynamics of the consumption distribution. We first establish that … our approach is able to closely match business cycle fluctuations of consumption from the National Account. We then study …

-rich households consume a larger share of their current income when exposed to a higher top income and consumption levels. We argue …

Using data on the production and usage of cotton, the paper develops estimates for the production and consumption of … textiles and consumption of textiles, and (c) consumption of clothing in India in relation to the rest of the world. …

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. …

payments (e.g. tax rebates) are spent on non-durable household consumption in the quarter that they are received. We develop a … Finances. A version of the model parametrized to the 2001 tax rebate episode is able to generate consumption responses to …

Consumption and Investment are significantly and negatively affected by all terror indicators, and the largest impact is …

This paper provides evidence on the relevance of the collection mode for the analysis of consumption data for the … figures from consumption reports obtained with diaries markedly differ from those obtained using recall data. We then exploit … features of the distribution of consumption (not just its mean). Finally, we show how to purge the expenditure measurements …