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Keywords:Consumption (Economics) 

Speech
The road to recovery: Hudson Valley

Remarks at the State University of New York at New Paltz, New Paltz, New York.
Speech , Paper 57

Working Paper
Minimum consumptions requirements: theoretical and quantitative implications for growth and distribution

The authors study the impact of a minimum consumption requirement on the rate of economic growth and the evolution of wealth distribution. The requirement introduces a positive dependence between the intertemporal elasticity of substitution and household wealth. This dependence implies a transition phase during which the growth rate of per-capita quantities rise toward their steady-state values and the distributions of wealth, consumption, and permanent income become more unequal. The authors calibrate the minimum consumption requirement to match estimates available for a sample of Indian ...
Working Papers , Paper 97-15

Journal Article
A (mild) defense of luxury

Regional Review , Volume 11 , Issue Q 4 , Pages 12 - 23

Journal Article
Measurements of savings

Federal Reserve Bulletin , Issue Nov

Working Paper
Specialization and the effects of transactions costs on equilibrium exchange

Working Papers , Paper 9703

Discussion Paper
Wealth shocks and macroeconomic dynamics

The effect of wealth on consumption is an issue of longstanding interest to economists. Analysts believe that fluctuations in household wealth have driven major swings in economic activity. This paper considers so-called wealth effects?the impact of changes in wealth on household consumption and the overall macroeconomy. There is an extensive existing literature on wealth effects, but there are also many unanswered issues and questions. This paper reviews the important issues regarding the role wealth plays in the macroeconomy and argues that there is a need for much more wealth effect ...
Public Policy Discussion Paper , Paper 13-4

Report
Non-linear consumption dynamics

Taking explicitly into account the forward-looking nature of consumption, this paper derives a non-linear equation for consumption growth in which the coefficient of contemporaneous expected income growth is an increasing (decreasing) function of lagged variables positively (negatively) correlated with future income growth. Estimating it with aggregate data, the paper finds statistically and economically significant non-linear consumption dynamics for three major industrial countries. These dynamics imply, among other things, that monetary policy may have a more immediate and profound effect ...
Research Paper , Paper 9726

Working Paper
Income tax refunds and the timing of consumption expenditure

Working Paper Series / Economic Activity Section , Paper 106

Report
Short-run fiscal policy: welfare, redistribution, and aggregate effects in the short and long run

This paper quantifies the effects of two short-run fiscal policies, a temporary tax cut and a temporary rebate transfer, that are intended to stimulate economic activity. A reduction in income taxation provides immediate incentives to work and save more, raising aggregate output and consumption. A temporary rebate is mostly saved and increases consumption marginally. Both policies improve the overall welfare of households, and the rebate policy especially benefits low-income households. In the long run, however, the debt accumulated to finance the stimulus and a higher tax to service the debt ...
Staff Reports , Paper 442

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Consumer behavior 48 items

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