Using detailed micro-data, this paper documents that households with lower income risk (and higher income levels …) exhibit a higher Marginal Propensity to Consume (MPC) in response to transitory income shocks, all else being equal. This … designed to account for the empirically observed negative correlation between income levels and income risk. This interaction …

decomposing disposable income into labour, property and transfer income is essential for understanding and forecasting consumption …. Finally, substantial crosscountry heterogeneity in marginal propensities to consume out of income and wealth components calls …

Many factors inhibiting and facilitating economic growth have been suggested. Will international income data tell which … averaging and classical model selection procedures are sensitive to income differences across datasets. For example, many of the … 1975-1996 growth determinants according to World Bank income data turn out to be irrelevant when using Penn World Table …