consumption-saving behavior. We construct a novel consumption-saving model where the household must infer the persistent component … marginal propensity to consume because the short run covariance between income growth and consumption growth increases when … can be identified from panel data on income and consumption. Finally, we estimate a high degree of knowledge in the Panel …

able to take into account consumption dynamics. In the model, households derive utility from consumption, and they relate … their purchase behavior to consumption planning. We illustrate our model for yogurt purchases, and show that our model …

production and consumption, on long run economic growth and income distribution. To accomplish with such a broad aim, we develop … income of workers/consumers; and (iii) the consequent changes in consumption patterns. The model thus articulates the links … consumption patterns on the demand side. We first analyse the model's properties, via numerical simulations, for a given setting …

realizations is front loaded, a closed form aggregate consumption function with CRRA preferences is derived. To have a closed form … life-time wealth and then the optimal consumption path. The derived model captures precautionary saving, which is dependent ….S. consumption data. …

collective consumption model, while accounting for general (possibly non-convex) individual preferences. We establish a … nature of consumption externalities (positive or negative) in the intra-household allocation process is non-testable. The … same non-testability conclusion holds for privateness (with or without externalities) or publicness of consumption. By …

, smooth and stabilize consumption as well as minimize portfolio risk. In this context we also show how the correlation between …

on how many hours to work with obvious consequences for the household budget. We therefore model consumption and labor …

Strong growth in disposable income has inflated consumption to unprecedented, but not sustainable levels. In this … individual welfare would be directly affected by policy measures designed to make consumption sustainable. Such policy measures … pay attention to both direct and indirect welfare effects. As a concrete proposal a redesign of consumption taxes is …