This paper documents that region-level consumption exhibits excess sensitivity to lagged income in Italy, Japan, Spain …, the United Kingdom and West Germany. However, region-specific idiosyncratic) consumption exhibits substantially less …

sectors and over time in order to examine how household consumption responds to different types of positive income shocks … (regular tranches versus lump-sum payments). Focusing on single-earner households, we find evidence of consumption smoothing in … accordance with the Permanent-Income Hypothesis, since total and food consumption do not exhibit excess sensitivity to …

sectors and over time in order to examine how household consumption responds to different types of positive income shocks … (regular tranches versus lump-sum payments). Focusing on single-earner households, we find evidence of consumption smoothing in … accordance with the Permanent-Income Hypothesis, since total and food consumption do not exhibit excess sensitivity to …

We measure the response of household consumption of different income groups to social spending during the 2002 …

the permanent-income model that allows for nonseparability between domestic and imported goods consumption. The …

The strong consumption growth in a period of falling stock market and a moderate recession in the U.S. has sparked off … a debate about the role of housing wealth as one of the determinants of consumption. The literature is divided over the … issue whether the effect of change in the financial wealth on consumption is lower than the change in housing wealth. In …

This paper studies the long-run relationship between consumption, labour income and asset wealth in Poland. Within …

Uncertainty concerning future income lowers consumption. This is often called the precautionary demand for savings. In … we have a set of variance series. Including the proxies in different specifications of the consumption function …, indication of precautionary saving can be found. No uncertainty would raise consumption by 4.9%. …

returns and exchange rate are integrated of order one. The Engle–Granger Cointegration test is then performed, suggesting that …