run component of consumption growth process is proxied by a news based index that is created using a random forest … algorithm. This news index is shown to predict aggregate long term consumption growth with an R-square of 57% and is robust to … model that arises due to measurement error in consumption data and show that this bias term is non-zero. Using a three pass …

methodologies for evaluating consumption-based models, with an emphasis on method-of-moments estimators. Finally, the chapter offers …The last 15 years has brought forth an explosion of research on consumption-based asset pricing as a leading contender … for explaining aggregate stock market behavior. This research has propelled further interest in consumption-based asset …

During the Great Recession, the collapse of consumption across the U.S. varied greatly but systematically with house …-price declines. We find that financial distress among U.S. households amplified the sensitivity of consumption to house-price shocks …-estimated-dynamic model to measure the financial distress channel, we find that these two facts amplify the aggregate drop in consumption by 7 …

run component of consumption growth process is proxied by a news based index that is created using a random forest … algorithm. This news index is shown to predict aggregate long term consumption growth with an R-square of 57% and is robust to … model that arises due to measurement error in consumption data and show that this bias term is non-zero. Using a three pass …

modelling framework for analysing the household flow of funds jointly with consumption.  The consumption function incorporates … consumption and housing purchase decisions jointly with portfolio decisions, there is much to be gained in modelling a household … decline in US saving rate, as well as of the household financial accelerator.  Moreover, the models discussed in this paper …