“excessive” and hence constitute a valid concern. The second objective is to assess the degree of capital mobility by comparing … the optimal and actual consumption smoothing current accounts. Findings – Based on vector autoregressive model, it was … (insignificant) deviation between the actual and the estimated consumption-smoothing current account. The results show that the …

“excessive” and hence constitute a valid concern. The second objective is to assess the degree of capital mobility by comparing … the optimal and actual consumption smoothing current accounts. Findings – Based on vector autoregressive model, it was … (insignificant) deviation between the actual and the estimated consumption‐smoothing current account. The results show that the …

Assuming a risk-neutral bank and assuming household utility to be exponential, we show how under information symmetry …

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

transitory shocks? The implications for consumption and welfare depend crucially on the answer to this question. We use CEX … repeated cross-section data on consumption and income to decompose idiosyncratic changes in income into predictable life … evolution of consumption and income inequality well and delivers two main results. First, we find that permanent changes in …

Assuming a risk-neutral bank and assuming household utility to be exponential, we show how under information symmetry …