swings in saving by the rich must actually have played the most important role in the consumption boom-bust, since since the …

subsidies on energy consumption. In this paper we analyze a panel of cross-country data to explore the responsiveness of energy … consumption to changes in energy prices and the implications of our findings for the debate on energy subsidy reform. Our findings …

policy increasingly weighs on government finances, sustains energy over-consumption, dampens investment in delivery systems …

consumption-saving model with labor income risk and incomplete markets to relate income dynamics to consumption and welfare, and …

How does access to credit impact consumption volatility? Theory and evidence from advanced economies suggests that … greater household access to finance smooths consumption. Evidence from emerging markets, where consumption is usually more … volatile than income, indicates that financial reform further increases the volatility of consumption relative to output. We …

surpluses without a fall in consumption, capital inflows should be used to increase future output. This paper tentatively finds … following consumption booms. It also shows that many recent large current account deficits have been predominantly the result of … consumption or non-productive investment booms. …