macroeconomic volatility, consumption behaviour and welfare for a large sample of countries. Differing from previous works, our … empirical strategy is grounded on consumption and takes account of the role of persistence in consumption/income volatility … significant impact in deviating consumption from its smoothing path, producing aggregate extra saving, and in hampering future …

This paper examines trends in household consumption and saving behaviour in each of the last three recessions in the UK … - had some success in encouraging households to bring forward some durable purchases. …

This paper examines trends in household consumption and saving behaviour in each of the last three recessions in the UK … households to increase durable purchases. …

The effect of wealth on consumption is an issue of longstanding interest to economists. Analysts believe that … impact of changes in wealth on household consumption and the overall macroeconomy. There is an extensive existing literature …

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 …

volatility is associated with a rise in discount rates and a decline in consumption. To study the impact of volatility we provide …

housing crash from 2006 to 2011 and its implications for aggregate and cross-sectional consumption during the Great Recession … consumption. Balance sheets act as a transmission mechanism from housing to consumption that depends on gross portfolio positions … and the leverage distribution. Low interest rate policies accelerate the recovery in housing and consumption …

-price declines. We find that financial distress among U.S. households amplified the sensitivity of consumption to house-price shocks …During the Great Recession, the collapse of consumption across the U.S. varied greatly but systematically with house …-estimated-dynamic model to measure the financial distress channel, we find that these two facts amplify the aggregate drop in consumption by 7 …