Recessions and expansions are often caused or reinforced by developments in private consumption - the largest component … cyclical component of consumption and an understanding of its drivers is essential. We estimate US cyclical consumption using a … cyclical consumption variable to that of univariate measures such as the recently introduced cc variable by Atanasov et al …

This paper elucidates the influence of stock market volatility on U.S. consumption using pooled mean group (PMG …) estimation of 46 states over the period from 1998 to 2017. The findings confirm that the PMG estimates of the effect of stock … market volatility on consumption are robust to the lag order, lag selection criteria, and outliers compared with the mean …

This paper revisits the effects of income changes on consumption of private households by focusing on a commonly … disregarded and yet sizeable component of household expenditures: consumption of food and non-food consumer packaged goods. We … variable, household disposable income. Even after controlling for differences in needs and for consumption volume, we document …

We show that countries that take on more international risk are rewarded with higher expected consumption growth …. International risk is defined as the beta of a country’s consumption growth with world consumption growth. High-beta countries hold … is negatively correlated with expected consumption growth. Therefore, uninsured shocks affect not only current growth …

macroeconomic volatility, consumption behaviour and welfare for a large sample of countries. Differing from previous works, our … empirical strategy is grounded on consumption and takes account of the role of persistence in consumption/income volatility … significant impact in deviating consumption from its smoothing path, producing aggregate extra saving, and in hampering future …