consumption function and the demand for money, not to mention monetary history, which helped to undermine the post World War 2 … case for a money growth rule, and the expectations augmented Phillips curve are then taken up, followed by a discussion of …

be long lasting and associated with significant effects on current accounts, wages and investment. Adjustment episodes …. The adjustment is generally achieved by reducing investment and increasing savings on the back of a falling wage share. A …

changes in risk to fluctuations in aggregate consumption and (d) the significant impact of incomplete markets on aggregate …One of the basic motives for saving is the accumulation of wealth to insure future welfare. Both introspection and … extant research on consumption insurance find that people face substantial risks that they do not fairly pool. In theory, the …

consumption and investment expenditures, as well as their broadly defined components, are examined. We also test for effects of … money on long run reallocations of consumption expenditures among durables, nondurables, and services. The time series …This paper tests for long run effects of money on real expenditures in the U.S. over the 1959-2002 period. Real …