The ratio of consumption to total household wealth (i.e., tangible assets plus unobserved human wealth) is commonly … component in the consumption equation. The consumption-to-wealth ratio calculated from this model is much less persistent than … relationship between consumption, assets and earnings (i.e., the variable "cay"). The evidence in favor of a stable cointegrating …

inequality. In high income countries, the evidence that income (wealth) does have a causal impact on health in adulthood is weak … distribution of health in a population contributes to income inequality and is itself a product of that inequality. The evidence … difficult to gauge the magnitude of the contribution this makes to income inequality. Variation in exposure to health risks …

consumption-pattern based inequality index that summarizes the projection of inequality through expenditure patterns. Estimation … a significant relationship between representative consumption and cross-country demand patterns. …

consumption changes in the US over the period 1952-2001. Theoretically, the effect of labour income risk on consumption changes is … consumption changes. A more important part of aggregate consumption changes is explained by the unobserved component. The …

the aggregate consumption to income ratio. By standard intertemporal budget constraint logic, this ratio is linked to … expectations of future income and consumption growth rates. We investigate whether these expectations suffice to explain the shifts … in the consumption-income ratio that occur during disaster periods or whether, on the other hand, consumers become more …

This paper uses housing returns to estimate the elasticity of intertemporal substitution (EIS) in consumption for ….e., equity and bill returns. An estimable regression equation for aggregate consumption growth and returns is obtained from the … aggregation of the consumption Euler equations of heterogeneous agents. As the regression equation includes unobserved omitted …

in consumption in five key sectors: tourism, hospitality, services, retail, and public transports. We identify a large …-term sectoral consumption shifts may occur. …