This paper studies consumption and savings decisions of Danish households before and during the financial crisis as … consumption ratios immediately in response to the financial crisis, net savers have increased their consumption ratios to pre … housing wealth, suggesting that collateral effects may play a role. The MPC is asymmetric; households adjust their consumption …

Recent theoretical contributions have suggested consumption externalities, or peergroup effects, as a potential … intertemporal consumption choice is a completely open question. To shed some light on the issue, we derive an extension of the … standard life-cycle model that allows for consumption externalities. The analysis is complicated by the challenge of …

This paper examines the extent to which consumption in Russian households responds to exogenous income shocks. During … wealth households. Only models of consumption which include precautionary savings motives can explain why poorer households … both reduce their consumption and increase their savings in response to an exogenous decline in income. …

We use direct evidence on credit constraints to study their importance for household consumption growth and for welfare …. We distentangle the direct effect on consumption growth of a currently binding credit constraints from the indirect … effect of a potentially binding credit constraint which generates consumption risk. Our data is focused on job losers. We …

This paper examines the extent to which consumption in Russian households responds to exogenous income shocks. During … wealth households. Only models of consumption which include precautionary savings motives can explain why poorer households … both reduce their consumption and increase their savings in response to an exogenous decline in income. …

I show that conventional estimators based on the consumption Euler equation, extensively used in studies of … intertemporal consumption behavior, produce inconsistent estimates of the effect of children on consumption if potentially binding … children on consumption using the Panel Study of Income Dynamics (PSID) for the US and high quality Danish administrative …

consumption via managing inflation expectations based on the Euler equation. Unconventional fiscal policy uses trivial … announcements of future consumer-price increases to boost inflation expectations and consumption expenditure on impact. Instead …

the German Socio-Economic Panel, we estimate the effect of reference consumption, defined as the consumption level of all … households who are perceived to be richer, on household savings and consumption. When controlling for own income as well as … unobserved individual and local area heterogeneity, an increase in reference consumption of 100 euros leads to an increase in …

This study examines the factors affecting household saving, extending previous research by adding measures of consumer … optimism to the variables previous investigators used to analyze saving behavior. In addition to expectations about household … household saving behavior. In general, those who are optimistic about future income, future economy, and life expectancy are …