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I study the effects of borrowing and liquidity constraints on the response of consumption toanticipated income changes. Using the PSID over 1999–2013, I find that the well-documentedstrong excess sensitivity of consumption to income of highly constrained households can beexplained by episodes...
Persistent link: https://www.econbiz.de/10013231872
We estimate the degree of "stickiness" in aggregate consumption growth (sometimes interpreted as reflecting consumption habits) for thirteen advanced economies. We find that, after controlling for measurement error, consumption growth has a high degree of autocorrelation, with a stickiness...
Persistent link: https://www.econbiz.de/10003778438
We estimate the degree of 'stickiness' in aggregate consumption growth (sometimes interpreted as reflecting consumption habits) for thirteen advanced economies. We find that, after controlling for measurement error, consumption growth has a high degree of autocorrelation, with a stickiness...
Persistent link: https://www.econbiz.de/10003735948
We estimate the degree of 'stickiness' in aggregate consumption growth (sometimes interpreted as reflecting consumption habits) for thirteen advanced economies. We find that, after controlling for measurement error, consumption growth has a high degree of autocorrelation, with a stickiness...
Persistent link: https://www.econbiz.de/10012770257
We estimate the degree of 'stickiness' in aggregate consumption growth (sometimes interpreted as reflecting consumption habits) for thirteen advanced economies. We find that, after controlling for measurement error, consumption growth has a high degree of autocorrelation, with a stickiness...
Persistent link: https://www.econbiz.de/10013316561
This paper uses a time-varying parameter Markov switching model to measure linkages between business confidence, consumer confidence, and the state of the economy in the US and the UK. Falling business confidence significantly increases the probability that growth will subsequently fall. Rising...
Persistent link: https://www.econbiz.de/10014109691
in November-December 2004 with representative household samples from Belgium, the Netherlands, Denmark, Poland and Spain … household. Results - Individuals from households in the CVD group consumed fish more frequently in Belgium and in Denmark as …
Persistent link: https://www.econbiz.de/10012768342
effects since it is local and unrelated to variation in macroeconomic conditions. Using a household data set with granular … homeowners with a combined loan-to-value ratio between 0.6 and 0.8 which, on the one hand, confirms the key role of household … balance sheets but on the other hand refutes a monotone relationship between response and household leverage …
Persistent link: https://www.econbiz.de/10011967367
prices close to the airport. Using a household data set with granular geographic information on primary residence, we find an …
Persistent link: https://www.econbiz.de/10011948340
'Consumption risk sharing' refers to the ability of agents to insure or protect their consumption against shocks to their income, for example, by borrowing and lending or holding claims on foreign equity. So measuring the extent of risk sharing informs us about how consumption is likely to...
Persistent link: https://www.econbiz.de/10014055637