We study the cyclical dynamics of consumption in the euro area (EA) and the large EA countries by distinguishing … cross-country heterogeneity in how different factors (including durable-specific ones) explain consumption; (iii) the … strength of spillovers from durable to nondurable consumption, as predicted by theory, is empirically correlated with how much …

Recessions and expansions are often caused or reinforced by developments in private consumption - the largest component … cyclical component of consumption and an understanding of its drivers is essential. We estimate US cyclical consumption using a … cyclical consumption variable to that of univariate measures such as the recently introduced cc variable by Atanasov et al …

Purpose: In this study, we empirically demonstrate how the new variable of "cyclical consumption" can capture … consumption risk and predict expected stock returns, which relationship is stronger and should be considered as the primary macro … cyclical consumption in the Korean capital market. Design/methodology/approach: The basic research design is composed of three …

The effect of wealth on consumption is an issue of longstanding interest to economists. Analysts believe that … impact of changes in wealth on household consumption and the overall macroeconomy. There is an extensive existing literature …