of deterministic seasonality in these series. We document that the data show most such deterministic seasonality for …

State-level consumption exhibits excess sensitivity to lagged income to the same extent as US aggregate data, but state …-specific (idiosyncratic) consumption exhibits substantially less sensitivity to lagged stste-specific income - a result that also holds for … reaction of consumption to idiosynctratic disposable income shocks even if it fails at the aggregate US level. Further analysis …

This paper studies the consumption decisions of agents who face costs of acquiring, absorbing and processing … consumption plans. In between updating dates, they remain inattentive. This behaviour implies that news disperses slowly … throughout the population, so events have a gradual and delayed effect on aggregate consumption. The model predicts that …

positive shock of government consumption has an effect on taxes and investment, v) fiscal policy instruments have a high …

magnitude of breaks is small. An application to postwar U.S. real GDP and consumption leads to a much tighter 95% confidence set … between output and consumption into account, confidence sets for structural break dates are even more precise and suggest a …

impulse responses and find that, in order to match the fall in consumption recorded by the VAR, we have to allow for 75% of …