This paper provides instrumental variables estimates of the response of aggregate private consumption to transitory … transitory shocks to aggregate output on private consumption in poor countries. …

This paper provides instrumental variables estimates of the response of aggregate private consumption to transitory … transitory shocks to aggregate output on private consumption in poor countries. …

The objective of this paper is to shed light on mechanism which increases fluctuation in consumption of least developed … countries. In general large fluctuation in consumption makes consumers worse off. This fact suggests that accumulation of … knowledge on the generating mechanism of the large consumption fluctuation very likely contributes to welfare improvement of the …

The budget constraint requires that, eventually, consumption must adjust fully to any permanent shock to income …

the period 1980q1-2011q4. That is, income is more often found to predict consumption and saving than the converse. Our … consumption and by exploring the direction of Granger causality between the two series. We also give evidence that house price … changes played a role in the US income and consumption dynamics, before, during and after the Great Recession. …

This paper elucidates the influence of stock market volatility on U.S. consumption using pooled mean group (PMG … market volatility on consumption are robust to the lag order, lag selection criteria, and outliers compared with the mean … group (MG) and the dynamic fixed effect (DFE) methods. I find that stock market volatility reduces total consumption …

behaviour could thus imply a challenge to PIH-based standard models of consumption if it meant that a substantial share of … consumption to predictable income changes observed in Germany. …

the period 1980q1-2011q4. That is, income is more often found to predict consumption and saving than the converse. Our … consumption and by exploring the direction of Granger causality between the two series. We also give evidence that house price … changes played a role in the US income and consumption dynamics, before, during and after the Great Recession. …

This paper elucidates the influence of stock market volatility on U.S. consumption using pooled mean group (PMG … market volatility on consumption are robust to the lag order, lag selection criteria, and outliers compared with the mean … group (MG) and the dynamic fixed effect (DFE) methods. I find that stock market volatility reduces total consumption …

countries. Out-of-sample forecast exercises also reveal that consumption changes are highly predictable. Our vector … autoregressive (VAR) model analysis also shows significantly positive responses of consumption to income shocks, and non …-negligible proportions of variations in consumption are explained by innovations in income. …