response. By combining this marginal spending share on durables with an average spending share of 14%, we estimate the annual … depreciation rate of durables in China to be 0.16. …

We examine the effects of monetary policy on household self-assessed financial stress and durable consumption using … savers. We find symmetric effects on durable consumption, mainly driven by mortgagors with high debt burden or limited access …

We examine the effects of monetary policy on household self-assessed financial stress and durable consumption using … savers. We find symmetric effects on durable consumption, mainly driven by mortgagors with high debt burden or limited access …

We examine the effects of monetary policy on household self-assessed financial stress and durable consumption using … savers. We find symmetric effects on durable consumption, mainly driven by mortgagors with high debt burden or limited access …

In the presence of idiosyncratic risk, the public revelation of information about uncertain aggregate outcomes such as … policy choices can be detrimental to social welfare. By announcing informative signals on non-insurable aggregate risk, the …

Autonomous demand shock affects consumption spending. Variation in consumption spending contributes to the volatility … in aggregate demand. As the investor is risk averse, volatility of aggregate demand reduces investment. Government … distribution functions of autonomous aggregate demand and monetary noise to decide on the level of consumption spending …

strength of spillovers from durable to nondurable consumption, as predicted by theory, is empirically correlated with how much …We study the cyclical dynamics of consumption in the euro area (EA) and the large EA countries by distinguishing … insight from the theoretical model, that liquidity constraints induce important interactions between durables and nondurables …

(ii) internal habit formation in non-durable consumption. Search and matching frictions generate comovement and increase …