This paper presents a simple new method for estimating the size of 'wealth effects' on aggregate consumption. The method exploits the well-documented sluggishness of consumption growth (often interpreted as 'habits' in the asset pricing literature) to distinguish between short-run and long-run...

Robust and reliable measures of consumer expenditures are essential for analyzing aggregate economic activity and for measuring differences in household circumstances. Many countries, including the United States, are embarking on ambitious projects to redesign surveys of consumer expenditures,...

Purpose – The paper aims to examine empirically whether the business environment, especially costs of doing business, affects corporate investment in India. Design/methodology/approach – The paper uses a firm-level panel data set (Prowess provided by the Centre for Monitoring Indian Economy)...