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 …

consumption insurance with respect to permanent income shocks of 36%. In replicating findings for their model and data, we find … maximum likelihood estimation (QMLE), which produces a significantly higher estimate of consumption insurance at 55%. For sub … suggest that consumption insurance estimates for the model are more accurate for QMLE than GMM, including when correcting for …

This paper proves that Keynes' positive relation between consumption and income is only a statistical observation. No … references for drawing correct conclusion about consumption and income …

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 …

changes in disposable income around the country's financial crisis in 2008, to plot the life-cycle path of consumption and … income for different education groups and to estimate the level of consumption smoothing. We split households into three … educated engage in more consumption smoothing than those without a university degree. We also construct a measure for marginal …