The budget constraint requires that, eventually, consumption must adjust fully to any permanent shock to income …

This paper studies the empirical relationship between consumption and saving under two different sources of uncertainty …

. Second, I move one step further with respect to previous studies on consumption behaviour by taking explicitly expected …

We examine whether credit contributes to business cycle fluctuations by directly affecting consumption rather than … vertical and consumers face a credit ceiling. Using this assumption we find consumption growth depends on the interest rate … consumption in the late 1980s were more likely due to income revisions than financial deregulation per se. …

Uncertainty concerning future income lowers consumption. This is often called the precautionary demand for savings. In … we have a set of variance series. Including the proxies in different specifications of the consumption function …, indication of precautionary saving can be found. No uncertainty would raise consumption by 4.9%. …

extant research on consumption insurance find that people face substantial risks that they do not fairly pool. In theory, the … consumption and wealth accumulation of price-taking households in an economy with incomplete markets differs substantially from … this decomposition as an organizing framework to present four main findings: (a) the concavity of the consumption policy …

information, we adopt a two-step two-sample procedure. Estimation results, based on cross-section data for the year 2000, point to … a potentially substantial effect of job security perception on household’s nondurables consumption. Its actual … capability to prompt aggregate consumption adjustments is however likely to be very limited. …

to consume out of financial wealth and raises the effective rate of discount in the aggregate consumption Euler equation …

We investigate the effect of positional goods (goods for which one's consumption relative to others’ matters) on saving …, based on results from a life-cycle consumption/saving experiment. In a Group treatment, we allow inter-personal comparisons … by assigning subjects to groups and displaying rankings based partly on consumption. A baseline Individual treatment is …