, the panel estimation yields somewhat lower results (0.6 to 1.1 cents). The MPC out of nominal housing wealth lies between … effect of volatile house prices, we find similar effects in the times series estimation while the MPC is larger in the panel …This paper adds to the literature on wealth effects on consumption by disentangling financial wealth effects from …

impact of EU structural funds on employment drawing on a panel dataset of 130 European NUTS regions over the time period 1999 … structural funds for an extended time horizon and examine the robustness of our results by comparing different dynamic panel …

underlying model. To address this question, in this paper I estimate the New Keynesian IS curve for output and consumption and … several possible extensions on panel data from 22 OECD countries over 40 years of data. I also evaluate whether the key … consumption are mainly forward looking, and this is a very robust feature of the data. At the same time, I find little evidence in …

We estimate the degree of 'stickiness' in aggregate consumption growth (sometimes interpreted as reflecting consumption … habits) for thirteen advanced economies. We find that, after controlling for measurement error, consumption growth has a high … degree of autocorrelation, with a stickiness parameter of about 0.7 on average across countries. The sticky-consumption …

debtors reduce consumption expenditures approximately one-for-one with increased debt service, suggesting binding liquidity …

deleveraging help explain the dismal performance of US consumption since 2007 in the aftermath of the housing bubble. By separating … a meaningful drag on consumption over and beyond income and wealth effects. The overall impact, however, is modest … -- around one-sixth of the slowdown in consumption between 2000-06 and 2007-12 -- and mostly driven by states with particularly …

underlying model. To address this question, in this paper I estimate the New Keynesian IS curve for output and consumption and … several possible extensions on panel data from 22 OECD countries over 40 years of data. I also evaluate whether the key … consumption are mainly forward looking, and this is a very robust feature of the data. At the same time, I find little evidence in …

We propose a two-stage estimation procedure to identify the effects of time-invariant regressors in a dynamic version … approach is illustrated with the estimation of a dynamic gravity equation for U.S. outward foreign direct investment …