We estimate the degree of 'stickiness' in aggregate consumption growth (sometimes interpreted as reflecting consumption … habits) for thirteen advanced economies. We find that, after controlling for measurement error, consumption growth has a high … degree of autocorrelation, with a stickiness parameter of about 0.7 on average across countries. The sticky-consumption …

, the model cannot account for the low level of consumption (or high saving) as a proportion of income observed in the data …. An examination of provincial level consumption data suggests that the absence of channels for intranational consumption … risk sharing may be an important reason why the business-cycle model has trouble accounting for Chinese consumption and …

. When countries do not share risk, individuals in those countries experience fluctuations in their consumption levels that …

a panel of long-term aggregate consumption data for developed countries. An advantage of our estimation approach, based …

that more households than normal fare very poorly). Second, does access to credit smooth aggregate consumption or aggregate … hours worked, and if so, does it matter with respect to the nature of business cycles? No, it does not; in fact, consumption … households to smooth their consumption. …

. We study private consumption choices focusing on former East Germany, where differential access to Western television was … significant impact of previous exposure to Western television on aggregate consumption levels. However, exposure to Western … broadcasts affects the composition of consumption, biasing choices in favor of categories of goods with high intensity of pre …

-income households increased their demand for credit to finance higher consumption expenditures in order to "keep up" with higher …