We find that consumption risk is lower in states that implement counter-cyclical fiscal policies. Moreover, firms whose … headquarters to a counter-cyclical state. Therefore, counter-cyclical fiscal policies lower the consumption risk of investors and …

in consumption in five key sectors: tourism, hospitality, services, retail, and public transports. We identify a large …-term sectoral consumption shifts may occur. …

in consumption in five key sectors: tourism, hospitality, services, retail, and public transports. We identify a large …-term sectoral consumption shifts may occur. …

We investigate the effects of government expenditure on private consumption when the private sector anticipates the … economic theory. Using post-WWII US data, we find that when taking into account anticipation, private consumption significantly … decreases in response to a defense expenditure shock, whereas when considering shocks to non-defense spending, consumption …