Using information in returns we identify the stochastic process of consumption – the crucial ingredient of most macro …-finance models. We find that aggregate consumption reacts over multiple quarters to innovations spanned by financial markets, and … this persistent component accounts for 26% of the consumption variation. These innovations drive most of the time series …

from aggregate consumption measures. We propose an estimation methodology to recover PC from its effects on the composition … of observable consumption. The estimation shows that PC is economically significant: It is highly volatile and has become … consumption series, which includes PC, significantly improves the fit of the standard consumption-CAPM with power-utility …

EU-27 countries and sustainable consumption behaviour indicators of the corresponding consumers. The authors assumed that … the material well-being construct is determined by net income and actual individual consumption variables. In contrast …, the sustainable consumption construct captures five selected behavioural variables. Research Design & Methods: The …

improving household welfare, little is known about whether off-farm work can promote fruit and vegetable consumption in rural … vegetable consumption, measured by purchasing frequencies and consumption expenditures. We employ a two-stage residual inclusion … that household heads’ off-farm work promotes rural households’ fruit and vegetable consumption by significantly increasing …

consumption since WWII and why its recovery path has been so weak …

significantly influence consumption dynamics. Our estimates of the indexes of relative risk aversion and relative prudence, as well … financial risks on consumption choices in the Mediterranean Region. The analysis is carried out using time series aggregate data …

This paper presents a model for an explicitly-solved optimal consumption in which there is a lower marginal propensity … to consume out of "human wealth" than out of financial wealth. I deliver this widely-noted consumption property (Friedman …

Using detailed micro-data, this paper documents that households with lower income risk (and higher income levels … designed to account for the empirically observed negative correlation between income levels and income risk. This interaction … generates saving dynamics such that the stationary distribution of wealth among households facing different risk levels is not …