consumption, aggregate wealth, and labour income should predict both stock returns and government bond yields. We use data for … consumption to rise. Regarding government bond yields, when bonds are seen as a component of asset wealth, then investors react in … temporarily reduce their consumption. …

consumption, aggregate wealth, and labour income should predict both stock returns and government bond yields. We use data for … consumption to rise. Regarding government bond yields, when bonds are seen as a component of asset wealth, then investors react in … temporarily reduce their consumption. …

We empirically assess whether a usually expected negative response of private consumption and private investment to a … HP-based; and iii) the Hamilton (2018)-based. We find that: i) increases in government consumption have a Keynesian … effect on real per capita private consumption; ii) there is a positive effect of tax increases on private consumption when …

We empirically assess whether a usually expected negative response of private consumption and private investment to a … HP-based; and iii) the Hamilton (2018)-based. We find that: i) increases in government consumption have a Keynesian … effect on real per capita private consumption; ii) there is a positive effect of tax increases on private consumption when …

consumption, aggregate wealth, and labour income should predict both stock returns and government bond yields. We use data for … consumption to rise. Regarding government bond yields, when bonds are seen as a component of asset wealth, then investors react in … temporarily reduce their consumption …

definitions. Our results reveal that lower final government consumption increases private consumption in three out of the four … crowding-out effects. There is some evidence of non-Keynesian effects for both private consumption and private investment, and …

different budgetary components. Panel Fixed Effects estimations for private consumption show that, in some cases, when fiscal … government final consumption expenditure, social transfers and taxes. Keynesian effects prevail when fiscal consolidations are …

consumption are estimated for the EU15 countries, using annual data over the period 1970–2005. Three alternative approaches to … government final consumption, social transfers, and taxes), depending on the specification and on the time span used. On the …

private consumption are estimated for the EU15 countries, using annual data over the period 1970–2005. Three alternative … items (general government final consumption, social transfers, and taxes), depending on the specification and on the time …