the procyclicality that was an exceptional characteristic of consumption behavior of Korean households after the 1997 … currency crisis. The existing studies on consumption behavior changes after the currency crisis are mostly based on the … assumption that the occurrence of the changes was homogeneous across all age groups. In this paper, however, consumption …

English Abstract: Our paper aims to estimate a household consumption function in the presence of liquidity constraints … consumption. Especially, the influence of household size on consumption decision is shown to be highly significant, not only … indirectly through its impact on household income, but also directly by affecting the household's preference for consumption …

English Abstract: In general, consumption plays a counter-cyclical role to smooth the amplitude of the growth rate … while showing a stable flow. However, in Korea after the global financial crisis, while sluggish consumption continued, a … pro-cyclicality of household consumption appeared in the business cycle contraction period. Previous studies have only …