, we find that the frequency of the consumption of beer, the most popular alcoholic beverage among youths, is inversely … related to the real price of beer and to the minimum legal age for its purchase and consumption. The negative price and legal …

, and current income differs from permanent income, failing to capture the consumption paid for through borrowing and … dissaving and the consumption of durables such as houses and cars. We examine income inequality between 1963 and 2014 using the … Current Population Survey and consumption inequality between 1960 and 2014 using the Consumer Expenditure Survey. We construct …

consumption volatility, but not by the changes in the consumption level. We show that the model can quantitatively capture these …

relative consumption growth and real exchange-rate depreciation across countries. The striking lack of evidence for this link … the consumption/real-exchange-rate anomaly or Backus-Smith puzzle - has prompted research on risk-sharing indicators with …. Independent evidence on the weak link between forecasts for consumption and real interest rates suggests that the presence of …

income and consumption. We document the sharp differences between recent trends in measured income and consumption, focusing …, while income has risen by more than 15 percent for the fourth and fifth deciles. The trends for consumption, on the other … evident in two income and two consumption data sources. We then examine several explanations for these differences. We argue …

elasticity of labor supply to the wage elasticity and (2) the degree of complementarity between consumption and labor. I bound … the degree of complementarity using data on consumption choices when labor supply varies randomly across states. Using …

Macroeconomic research on consumption has been influenced profoundly by rational expectations. First, rational … expectations together with the hypothesis of constant expected real interest rates implies that consumption should evolve as a … its failure. Three branches of the literature have developed. The first relies on the durability of consumption to explain …

We evaluate consumption and income measures of the material well-being of the poor. We begin with conceptual and … pragmatic reasons that favor income or consumption. Then, we empirically examine the quality of standard data by studying … aggregates. We also compare low reports of income and consumption to other measures of hardship and well-being. The closer link …

two identification strategies to monthly household panel data, we find that consumption significantly responds to …