Carroll, Christopher D.; Slacalek, Jiri; Sommer, Martin - 2008
We estimate the degree of ‘stickiness’ in aggregate consumption growth (sometimes interpreted as reflecting consumption … habits) for thirteen advanced economies. We find that, after controlling for measurement error, consumption growth has a high … degree of auto-correlation, with a stickiness parameter of about 0.7 on average across countries. The sticky-consumption …