separability between consumption and money over a sizeable part of the post-ERM period using non-parametric methods. If consumption …

separability between consumption and money over a sizeable part of the post-ERM period using non-parametric methods. If consumption …

underlying model. To address this question, in this paper I estimate the New Keynesian IS curve for output and consumption and … consumption are mainly forward looking, and this is a very robust feature of the data. At the same time, I find little evidence in …

underlying model. To address this question, in this paper I estimate the New Keynesian IS curve for output and consumption and … consumption are mainly forward looking, and this is a very robust feature of the data. At the same time, I find little evidence in …

consumption and hypothetical debt decisions. Our findings suggest that real wealth mediates the sensitivity of consumption to …

-44 year-old winning; (iii) losses were quite uniform across consumption quantiles because rigid rents served as a hedge for …

aggregate private consumption. We find the effects to be economically relevant, especially when the lower bound is binding …

, income and consumption. We use panel regressions and an instrumental variable approach. First, our panel-based MPC estimates … the reaction to losses versus gains. Fourth, higher MPC is obtained for the two main consumption expenditure categories …. Fifth, we find evidences that housing prices shock decreases consumption inequality while financial wealth shocks have a …

We study the cyclical dynamics of consumption in the euro area (EA) and the large EA countries by distinguishing … cross-country heterogeneity in how different factors (including durable-specific ones) explain consumption; (iii) the … strength of spillovers from durable to nondurable consumption, as predicted by theory, is empirically correlated with how much …

To predict the effects of the 2020 U.S. "CARES" act on consumption, we extend a model that matches responses of … households to past consumption stimulus packages. The extension allows us to account for two novel features of the coronavirus … likely be necessary if consumption spending is to recover. …