We study how estimators used to impute consumption in survey data are inconsistent due to measurement error in … consumption. Previous research suggests instrumenting consumption to overcome this problem. We show that, if additional regressors … are present, then instrumenting consumption may still produce inconsistent estimators due to the likely correlation …

. Using longitudinal household data, our instrument produces an elasticity of consumption with respect to local housing price …

variable. A simulation experiment that considers the impact of economic uncertainty on aggregate consumption illustrates some …

We study the dynamics of consumption, the real interest rate, and measures of labor input in Japan over the period from … interest rate policy pursued by the Bank of Japan and the surprise increase in the consumption tax rate in April 1997. Formal … parameters governing household consumption and labor supply decisions. Specifically, following the tax hike and during the low …

consumption-saving behavior. We construct a novel consumption-saving model where the household must infer the persistent component … marginal propensity to consume because the short run covariance between income growth and consumption growth increases when … can be identified from panel data on income and consumption. Finally, we estimate a high degree of knowledge in the Panel …

information on consumption, income and wealth, to structurally estimate a buffer-stock saving model. We exploit the information … contained in the joint dynamics of income, consumption and wealth to quantify the degree of insurance against income risk. The …