This paper investigates the impact of financial liberalization on the relationship between consumption and total wealth … where financial liberalization, by signalling a future reduction in the incomplete markets component of consumption growth …, increases the current consumption-wealth ratio. From the model, an aggregate long-run relationship is derived between …

version of the selfish life-cycle model and then survey the literature on household saving and bequest behavior in Japan in …

We study whether the level of household indebtedness is related to the interest rate elasticity of private consumption …. Looking at Finnish aggregate data, we find no robust evidence of increased interest rate elasticity of private consumption … period, which may have contributed towards muting the sensitivity of private consumption to interest rates even as aggregate …

consumption commitment for most households { their monthly rent or mortgage payment. I find that non-durable and food spending … weekly, biweekly and monthly income streams but the same timing of rent/mortgage payments have very similar consumption …

present-consumption standard and rank in the present-consumption distribution. In this way the analysis addresses the saving …This paper examines the impact of income growth and income inequality on household saving rates and payoffs in a non …-cooperative game where each player’s payoff depends on her present and future consumption and her rank in the present consumption …

present-consumption standard and rank in the present-consumption distribution. In this way the analysis addresses the saving …This paper examines the impact of income growth and income inequality on household saving rates and payoffs in a non …-cooperative game where each player's payoff depends on her present and future consumption and her rank in the present-consumption …

consumption changes in the US over the period 1952-2001. Theoretically, the effect of labour income risk on consumption changes is … consumption changes. A more important part of aggregate consumption changes is explained by the unobserved component. The …

This paper sheds new light on the interactions between business cycles and the consumption distribution. We use … Consumer Expenditure Survey data and a factor model to characterize the cyclical dynamics of the consumption distribution. We … first establish that our approach is able to closely match business cycle fluctuations of consumption from the National …

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 …