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 …

consumption changes in the US over the period 1952-2001. Theoretically, the effect of labour income risk on consumption changes is … consumption changes. A more important part of aggregate consumption changes is explained by the unobserved component. The …

The ratio of consumption to total household wealth (i.e., tangible assets plus unobserved human wealth) is commonly … relationship between consumption, assets and earnings (i.e., the variable "cay"). The evidence in favor of a stable cointegrating … unobserved component model applied to US data over the period 1951Q4-2016Q4. The regression of consumption on assets and earnings …