Most of the empirical literature on consumption behaviour over the last decades has focused on estimating Euler … policy relevant issues. Alternatively, many papers have proposed using the consumption function to forecast behaviour. This … paper follows in this tradition, by deriving an analytical consumption function in the presence of intertemporal non …

This notes proposes an approximation to the consumption function in the buffer-stock model. …

We simulate a buffer-stock model of consumption, explicitly aggregate over consumers, and estimate aggregate marginal …

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%. …

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. …

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

This paper studies the empirical relationship between consumption and saving under two different sources of uncertainty … financial and environmental risks affect consumption. Moreover, we suggest a solution to some shortcomings which concern the …

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

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