It is sometimes argued that more advertising raises consumption which in turn stimulates output and so economic growth … advertising does not Granger-cause growth but Granger-causes consumption. Consumption, in turn, Granger-causes GDP growth. The … data imply that the immediate impact of more advertising on consumption is positive. However, the long-run effect is …

The standard approach to modelling consumption/saving problems is to assume that the decisionmaker is solving a dynamic … stochastic optimization problem However under realistic descriptions of utility and uncertainty the optimal consumption …

We estimate the degree of ‘stickiness’ in aggregate consumption growth (sometimes interpreted as reflecting consumption … habits) for thirteen advanced economies. We find that, after controlling for measurement error, consumption growth has a high … degree of auto-correlation, with a stickiness parameter of about 0.7 on average across countries. The sticky-consumption …

two-period consumption and savings model for a loss-averse agent who measures utilityfrom consumption relative to a …

In this paper we investigate the size of the consumption drop at retirement in Italy. We use micro data on food and … total non-durable household spending covering the period 1993-2004, and evaluate the change in consumption that accompanies … decision. We take a regression discontinuity approach, and make the identifying assumption that consumption would be the same …