consumption-saving behavior. We construct a novel consumption-saving model where the household must infer the persistent component … marginal propensity to consume because the short run covariance between income growth and consumption growth increases when … can be identified from panel data on income and consumption. Finally, we estimate a high degree of knowledge in the Panel …

In this paper, we revisit the issue of excess sensitivity of consumption to income and address the weak instrument … consumption function, namely, the Greenbook forecast of real disposable income growth. We show that this instrument encompasses … this important parameter of the consumption function. Finally, we use a time-varying specification of consumption function …

of large prizes (USD 8,300-150,000) is slightly below one half. While the consumption responses we find are high, their …

nutritional gains from eating meat, without having a significantly adverse environmental impact, i.e. sustainable meat consumption … meant that meat consumption has also risen. India is an example of a country where a large share of the population has been … interactions and globalisation are two factors that explain this shift in consumption behaviour, especially amongst Hindu …

We extend a semi-structural model of household income and consumption to allow for dynamic consumption elasticities … with respect to transitory income shocks. Likelihood-based inference for our model accurately estimates consumption …-zero transitory consumption responses for constrained households. Applying our model to data from a representative sample of U …

and intergenerational mobility of consumption. Existing work has used bequest receipt to signal a parent's access to … error, we show that the intergenerational persistence of consumption in the U.S. for credit constrained families is much … are more likely to have consumption levels similar to those of their parents than children from unconstrained families …

This paper estimates and tests several versions of the consumption-based asset pricing model extended to allow for time … significant effects on an individual's intertemporal consumption behaviour …