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 …

save more, raising aggregate output and consumption. A temporary rebate is mostly saved and increases consumption … out capital and reduce output and consumption, causing welfare to deteriorate. -- Short-run fiscal policy ; life …

policy shocks lead to a deterioration in earnings, income and consumption inequality and contribute to their fluctuation. The … response of income and consumption at different quantiles suggests that contractionary policy has a larger negative effect on …