In this paper the effects on aggregate consumption of changes in the age distribution of the population are analysed … empirically. Economic theories predict that age influences individuals' saving and consumption behaviour. Despite this, age … structure effects are rarely controlled for in empirical consumption functions. Our findings suggest that they should. By …

In this paper the e ects on aggregate consumption of changes in the age distribution of the population are analysed … empirically. Economic theories predict that age influences individuals’ saving and consumption behaviour. Despite this, age … structure e ects are rarely controlled for in empirical consumption functions. Our findings suggest that they should. By …

In this paper the effects on aggregate consumption of changes in the age distribution of the population are analysed … empirically. Economic theories predict that age influences individuals’ saving and consumption behaviour. Despite this, age … structure effects are rarely controlled for in empirical consumption functions. Our findings suggest that they should. By …

models, unit root tests, cointegration test, volatility models (ARCH, GARCH, ARCH-M, GARCH-M, Taylor-Schwert GARCH, GJR …, TARCH, NARCH, APARCH, EGARCH) to analyze quarterly time series of GDP and Government Consumption Expenditures & Gross …

The present paper tests for the existence of multicointegration between real per capita private consumption expenditure … income and consumption expenditure on the one hand, and the stock of consumers' wealth, which can be considered as cumulative … multicointegrating relations and find supporting evidence for the existence of multicointegration in US consumption data. …

A dynamic consumption function, where consumption in the long run is determined by households' disposable income and … wealth, has been superior to the Euler equation in explaining the development of Norwegian aggregate consumption over several … deregulation and the current international financial crisis. In the current version, long run consumption is homogeneous in income …

Housing and pension wealth are shown to be important determinants of personal sector consumption and retirement … behaviour in the UK. Housing and state pension wealth have a positive effect on consumption, while private pension wealth … promotes greater savings. Greater private defined benefit pension wealth encourages earlier retirement, while greater de …

A dynamic consumption function, where consumption in the long run is determined by households’ disposable income and … wealth, has been superior to the Euler equation in explaining the development of Norwegian aggregate consumption over several … deregulation and the current international financial crisis. In the current version, long run consumption is homogeneous in income …

is a gain in knowledge as a result of the forecast failure. Using Norwegian consumption as an example, we show that the … financial deregulation in the mid 1980s led to forecast failure both for consumption functions and Euler equations. This … progress took the form of a respecified consumption function where wealth plays a central role. That model is updated and is …