Investigating stockholder consumption growth is critical in asset pricing studies, as preference and risk averse of stockholders differ from that of average households. The disagreement among households about the macroeconomic uncertainty leads to their heterogeneous stock market participation...

We use inflation and income growth expectations from the ECB Consumer Expectations Survey to measure the subjective expected pass-through of inflation to income in the main euro area countries. By aggregating consumers' responses to probabilistic questions, we obtain significantly higher...

Various deviations from the Permanent Income consumption model with rational expectations have been discussed in the literature, including loss aversion and liquidity constraints. In the existing literature, these two types of consumption asymmetry are usually considered as mutually exclusive....

This paper uses neoclassical demand theory to calculate the welfare costs of inflation. It considers the demand interactions between money, consumption goods, and leisure, relaxes the assumption of fixed consumer preferences, and addresses the inter-related problems of estimation of money demand...

The aim of the paper is an examination wheatear the social spillover of consumption behaviours differs for the homophily and heterophily based structure of interactions. As an approximation of agents' behaviours households' expenditures with the reference person attributes were used. The...

Purpose: The Bass model was created to analyse the product life cycle (PLC) in order to help sales and marketing departments in their business decision making. The purpose of this paper is to analyse the diferences between the clients assisted and sales variables, to discover which of the two...

Brand distribution and promotional decisions require store-level forecasts for Brand sales. This may be accomplished by developing individual store-level models using store-level sales and promotional data. The disadvantage in this is that the number of models could run into hundreds. Also,...

In this paper, we revisit the issue of excess sensitivity of consumption to income and address the weak instrument problem that is well documented in this literature. Using quarterly data for the U.S. economy, we first highlight the weak instrument problem by showing that the use of conventional...