The negative first-lag autocorrelation of monthly consumption changes rejects the continuous-time random walk model of … consumption. This paper addresses the question of whether data distortions due to measurement errors or seasonal adjustment … autocorrelation or may not, depending on the statistical properties of the unknown seasonally-unadjusted monthly consumption. Overall …

variability in consumption velocity while at the same time successfully explaining other key statistics. Sufficient variability in … consumption into a production-based cash costly-credit model (see Gillman and Benk, 2007) makes the evolution of deposits more … credit production overshoot sufficiently to produce realistic variability in consumption velocity. The model succeeds in …

We provide new evidence on the relationship between consumption expenditure and key drivers namely, income and wealth …

multiplier effect. To test this hypothesis, this study augments a simple consumption function with tourist arrivals and employs … expenditure consumption. …

financial assets, and measures of aggregate consumption for each of the geographic units over time. We estimate regression … models in levels, first differences and in error-correction form, relating per capita consumption to per capita income and … wealth. We find a statistically significant and rather large effect of housing wealth upon household consumption. This effect …

multiplier effect. To test this hypothesis, this study augments a simple consumption function with tourist arrivals and employs … expenditure consumption. …

financial assets, and measures of aggregate consumption for each of the geographic units over time. We estimate regression … models in levels, first differences and in error-correction form, relating per capita consumption to per capita income and … wealth. We find a statistically significant and rather large effect of housing wealth upon household consumption. This effect …

fundamental value of the house they own exceeds the present discounted value of their planned future consumption of housing …, of the Yaari-Blanchard OLG model used in the paper), there is no pure wealth effect on consumption from a change in house … prices driven by the housing demand of future generations will boost current consumption. There is a pure wealth effect on …