The well-documented rise in political polarization among the U.S. electorate over the past 20 years has been accompanied by a substantial increase in the effect of partisan bias on survey-based measures of economic expectations. Individuals have a more optimistic view on future economic...

India has been one of the fastest emerging markets in the world and Employees rightfully are one of the most important resources of economy. It is imperative that corporate pay due respect to Human Resources' and keep them motivated for mutual benefits. There are numerous incentives and perks...

We exploit the unexpected announcement of an immediate, temporary VAT cut in Germany in the second half of 2020 as a natural experiment to study the spending response to unconventional fiscal policy. We use survey and scanner data on households' consumption expenditures and their perceived...

We exploit the unexpected announcement of an immediate, temporary VAT cut in Germany in the second half of 2020 as a natural experiment to study the spending response to unconventional fiscal policy. We use survey and scanner data on households’ consumption expenditures and their perceived...

We exploit the unexpected announcement of an immediate, temporary VAT cut in Germany in the second half of 2020 as a natural experiment to study the spending response to unconventional fiscal policy. We use survey and scanner data on households’ consumption expenditures and their perceived...

This paper shows that the debt burden of households, as measured by the debt service to income ratio, is helpful in forecasting the future growth of consumption expenditures. Using data for the United States over the period 1960-97, I find a significant negative relationship between the...

This paper provides new empirical insights on the joint distribution of consumption, income, and wealth (CIW) in three of the poorest countries in the world -- Malawi, Tanzania, and Uganda -- all located in sub-Saharan Africa (SSA). Our first finding is that while income inequality is similar to...

We estimate the dynamic effects of aggregate US housing market shocks on state-level retail sales and home prices from 1976 to 2008. We use a common factor VAR model to account for the dynamics of the state-level variables, and identify housing demand and supply shocks using a signs-restriction...

In this paper, we present data on recent trends in private consumption and in possible determinants of private consumption (such as GDP, household incomes, household saving rates, household wealth, and employment conditions) in the Group of Seven (G7) countries and find that there has been...

While this is typically ignored, the properties of the stochastic process followed by aggregate consumption affect the estimates of the costs of fluctuations. This paper pursues two approaches to modelling aggregate consumption dynamics and to measuring how much society dislikes fluctuations,...