the aggregate consumption to income ratio. By standard intertemporal budget constraint logic, this ratio is linked to … expectations of future income and consumption growth rates. We investigate whether these expectations suffice to explain the shifts … in the consumption-income ratio that occur during disaster periods or whether, on the other hand, consumers become more …

economies during times of crisis. We find some limited evidence in its favour: if public consumption is reduced in response to a … fiscal crisis (as defined by a high level of debt), private consumption does seem to increase. However the size of the effect … is smaller than that typically found in similar studies. Furthermore, the increase in private consumption is not usually …

This paper examines the effect of minimum wage changes on local aggregate inflation and consumption growth. The paper …-wage workers. Interestingly, consumers adjust their real food consumption when minimum wages rise, suggesting that some workers …

Using VAR analysis on US data, we show that unanticipated fiscal expansions boost private consumption and business … crowding-in of both consumption and entry can be generated only under very specific assumptions. In a static model with full … such that future profits are high enough to generate entry. However, consumption falls for conventional parameter values …

English Abstract: This paper explores the heterogeneous effects of monetary policy on consumption between workers and … retirees. Using household-level data from the U.S., Italy, Japan and Korea, we first show that the consumption of retirees … in order to study the mechanism of the differential effects on consumption of workers and retirees of monetary policy …

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. …

pandemic to analyze the response of consumption spending to unemployment risk. We find that earlier in the pandemic, higher …

To predict the effects of the 2020 U.S. "CARES" act on consumption, we extend a model that matches responses of … households to past consumption stimulus packages. The extension allows us to account for two novel features of the coronavirus … likely be necessary if consumption spending is to recover. …