This paper provides instrumental variables estimates of the response of aggregate private consumption to transitory … transitory shocks to aggregate output on private consumption in poor countries. …

This paper provides instrumental variables estimates of the response of aggregate private consumption to transitory … transitory shocks to aggregate output on private consumption in poor countries. …

the period 1980q1-2011q4. That is, income is more often found to predict consumption and saving than the converse. Our … consumption and by exploring the direction of Granger causality between the two series. We also give evidence that house price … changes played a role in the US income and consumption dynamics, before, during and after the Great Recession. …

dynamics together with persistent changes in consumption. The RE model extended with imperfect capital mobility by Shibata and … Shintani (1998) can account for persistent changes in consumption, but only at the cost of the explanatory power for the …) in which consumers are inattentive to shocks to their income and infrequently adjust their consumption. The SI model can …

dynamics together with persistent changes in consumption. The RE model extended with imperfect capital mobility by Shibata and … Shintani (1998) can account for persistent changes in consumption, but only at the cost of the explanatory power for the …) in which consumers are inattentive to shocks to their income and infrequently adjust their consumption. The SI model can …

sense of very high investment and very low consumption, giving rise to rapid capital accumulation; and an imbalance between …. Both imbalances imply a low rate of time discount by both govern-ment and society: consumption in the present is forgone in … favour of consumption in the future. The paper examines how these imbalances came about, and goes on to consider whether they …

This paper considers the implications of consumption and borrowing externalities in a small open economy framework. The … former reflect the assumption that status conscious agents care about the relative consumption of imported goods, while the …

The objective of this paper is to shed light on mechanism which increases fluctuation in consumption of least developed … countries. In general large fluctuation in consumption makes consumers worse off. This fact suggests that accumulation of … knowledge on the generating mechanism of the large consumption fluctuation very likely contributes to welfare improvement of the …