transitory shocks? The implications for consumption and welfare depend crucially on the answer to this question. We use CEX … repeated cross-section data on consumption and income to decompose idiosyncratic changes in income into predictable life … evolution of consumption and income inequality well and delivers two main results. First, we find that permanent changes in …

a proxy for the consumption-wealth ratio that should predict expected returns on financial assets and housing. Using U … break in the mid-eighties. Moreover, we show that until the beginning of 2000, consumption spending and housing wealth were … housing returns. Indeed, until the beginning of 2000, the proxy of the consumption-wealth ratio predicts expected asset …

consumption ripple through the fabric of income and price level shocks. The income shock emanates from the adverse effects of such … capacity and the disruption of supply chains by climatic disasters generate a price level shock. To delve deeper into these … climatic disasters impact consumption where the price effect has appeared stronger than the income effect. The findings suggest …

, especially for the future path of private consumption. Although they receive high attention in the media, their forecasting power … majority of countries, the new indicators increase the forecasting performance. The gains over the CCI are striking for Italy … ; consumption ; nowcasting ; mixed frequency data …

, especially for the future path of private consumption. Although they receive high attention in the media, their forecasting power … majority of countries, the new indicators increase the forecasting performance. The gains over the CCI are striking for Italy …

forward-looking model of consumption. The model decomposes observed consumption uctuations in changes due to fundamentals, and …