have a quantitatively important effect on real variables like output, consumption, investment, and hours worked. To … triggers a fall in output, consumption, investment, and hours worked, and a notable change in the current account of the …

two identification strategies to monthly household panel data, we find that consumption significantly responds to …

fully attend to consumption in all periods but fail to attend to some future lumpy expenditure opportunities. This asymmetry …

We document some key facts about aggregate consumption and its subcomponents over time. We then document the behavior … of some important determinants of consumption, such as consumers' expectations about their future income, and changes in … consumption during the Great Recession can be explained by the observed drops in wealth and income expectations …

-signaling can potentially crowd out the effect of consumption utility on choices. Two large-scale, randomized controlled field …

private-sector consumption in the high-budget-deficit economy of Israel during the first half of the 1980s. The paper develops … and estimates an intertemporal optimizing model of consumption choice by finite-lived individuals. The evidence supports …

that the distribution of measured consumption growth rates should be independent of variables that are exogenous to the … individual consumer when we allow for measurement error in consumption and for variation in preferences. This proposition is … tested by cross sectional regressions of individual consumption growth on a variety of variables that should not be …

Macroeconomic research on consumption has been influenced profoundly by rational expectations. First, rational … expectations together with the hypothesis of constant expected real interest rates implies that consumption should evolve as a … its failure. Three branches of the literature have developed. The first relies on the durability of consumption to explain …