empirical studies at micro level are based on Euler equation, there have been few to estimate the household consumption function … household consumption function. We fail to find evidence to support forward looking behavior over long horizon. …

We analyze the life cycle consumption choice model for multiple goods, focusing on the distinction between durables and … good, the optimal consumption plan is not myopic. Instead, it depends on past as well as on (expected) future prices. The … consumption of perishables ceases to be myopic as well. The solutions show that durables play an important part in intertemporal …

relationship which links aggregate consumption in period t with aggregate income in period t and another "determinants" of … regularities of aggregate consumption and income data such as the high linear association of aggregate income and consumption for …

The paper is about the economic modelling of aggregate consumption expenditure with particular emphasis on the … stability") we shall derive a first order approximation for the change in the aggregate consumption ratio. This approximation … allows to analyze whether and how the distribution effect of income affects the aggregate consumption ratio. …

consumption expenditure) of a large and heterogeneous population. The starting point of our aggregation analysis is a …

population in the aggregate consumption relation and of assuming time-invariance of the coefficients in this relation, as done in …

future should stimulate consumption. The recent literature discusses that both theories might be right at different times …) for the Markov process, we test if the neoclassical reaction of private consumption to fiscal variables depends on some! …

explaining the relative change in aggregate consumption using the distributional approach of aggregation by Hildenbrand and Kneip … average derivative of the individual consumption relation without requiring a specific functional form of this relation and …