Macroeconomic models often invoke consumption "habits" to explain the substantial persistence of macroeconomic … consumption growth. But a large literature has found no evidence of habits in the microeconomic datasets that measure the behavior … aggregate consumption growth reflects consumers' imperfect attention to aggregate shocks. Our proposed degree of (macro …

In this paper we estimate the relevance of habits versus interpersonal comparisons for the consumption behavior of U … (PSID) covering the time span from 1999 to 2009. We find that both habits, measured as lagged consumption, and envy motives …In dieser Analyse schätzen wir den Einfluss von Gewohnheits-(Habits) gegenüber Vergleichsmotiven (Envy) zur Erklärung …