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 …

consumption. …

expected future values of an economic state variable, for example consumption growth, aggregate market returns, or short …

expectations with consumption data from the Consumer Expenditure Survey, I find that consumption of high-income households …