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Keywords:Consumption (Economics) 

Working Paper
Ricardian equivalence under income uncertainty

Working Papers , Paper 92-6

Working Paper
A spectral analysis of the cross-country consumption correlation puzzle

Dynamic general equilibrium models predict high cross-country consumption correlations, whereas the data show that output correlations tend to be higher. Spectral decomposition reveals that this ranking varies across frequency bands, with consumption correlations often exceeding output correlations at higher frequencies.
Working Papers , Paper 2003-023

Speech
The U.S. economic outlook

Remarks at the Washington and Lee University H. Parker Willis Lecture in Political Economics, Lexington, Virginia.
Speech , Paper 20

Journal Article
Research spotlight: How consumers respond to stimulus payments

Related links: https://www.richmondfed.org/-/media/richmondfedorg/publications/research/econ_focus/2011/q4/research_spotlight_weblinks.cfm
Econ Focus , Volume 15 , Issue 4Q , Pages 11

Journal Article
Projecting consumer expenditures on automobiles

Quarterly Review , Volume 10 , Issue Win , Pages 43-44

Journal Article
Surveys of liquid asset holdings

Federal Reserve Bulletin , Issue Sep

Working Paper
Consumption and asset prices with recursive preferences: Continuous-time approximations to discrete-time models

This paper presents tractable and efficient numerical solutions to general equilibrium models of asset prices and consumption where the representative agent has recursive preferences. It provides a discrete-time presentation of the approach of Fisher and Gilles (1999), treating continuous-time representations as approximations to discrete-time "truth." First, exact discrete-time solutions are derived, illustrating the following ideas: (i) The price-dividend ratio (such as the wealth-consumption ratio) is a perpetuity (the canonical infinitely lived asset), the value of which is the sum of ...
FRB Atlanta Working Paper , Paper 99-18

Working Paper
The equity premium puzzle and the risk-free rate puzzle at long horizons

The failure of consumption based asset pricing models to match the stochastic properties of the equity premium and the risk-free rate has been attributed by some authors to frictions, transaction costs or durability. However, such frictions would primarily affect the higher frequency data components: consumption-based pricing models that concentrate on long-horizon returns should be more successful. ; We consider three consumption-based models of the asset-pricing kernel: time-separable utility, and the models of Abel (1990) and Constantinides (1990). We estimate a vector ARCH model that ...
Working Paper Series, Issues in Financial Regulation , Paper WP-96-4

Working Paper
Crowding out and the wealth role of government debt

Working Papers in Applied Economic Theory , Paper 85-02

Working Paper
Borrowing restrictions and wealth constraints: implications for aggregate consumption

Recent empirical studies have found that consumption is more sensitive to current income than simple versions of the life-cycle, permanent income hypothesis would predict. The present paper studies a model in which the fraction of consumers exhibiting excess sensitivity is endogenously determined. The presence of income uncertainty and restrictions on borrowing are shown to generate a distribution of consumption across individuals which is consistent with the recent empirical evidence. The aggregate fraction of consumers facing a binding borrowing constraint is shown to exhibit positive ...
Working Papers in Applied Economic Theory , Paper 86-06

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Consumption (Economics) 295 items

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