Understanding Consumption

Co-Integration and Error Correction: Representation, Estimation, and Testing

1987 • 30,456 citations

Likelihood Ratio Statistics for Autoregressive Time Series with a Unit Root

1981 • 14,059 citations

Endogenous Technological Change

1990 • 13,553 citations

Credit Rationing in Markets with Imperfect Information.

1981 • 12,689 citations

Rules Rather than Discretion: The Inconsistency of Optimal Plans

1977 • 7,667 citations

Are Government Bonds Net Wealth?

1974 • 6,026 citations

The equity premium: A puzzle

1985 • 5,686 citations

Spectral Analysis and Time Series

1983 • 5,140 citations

Economics and Consumer Behavior

1980 • 4,305 citations

Substitution, Risk Aversion, and the Temporal Behavior of Consumption and Asset Returns: A Theoretical Framework

1989 • 4,242 citations

A Theory of Rational Addiction

1988 • 3,827 citations

Stochastic Implications of the Life Cycle-Permanent Income Hypothesis: Theory and Evidence

1978 • 3,343 citations

The Penn World Table (Mark 5): An Expanded Set of International Comparisons, 1950-1988

1991 • 3,336 citations

Long-Run Policy Analysis and Long-Run Growth

1991 • 3,261 citations

Domestic Saving and International Capital Flows

1980 • 2,813 citations

Myopia and Inconsistency in Dynamic Utility Maximization

1955 • 2,700 citations

A Theory of Social Interactions

1974 • 2,698 citations

Inference in Linear Time Series Models with some Unit Roots

1990 • 2,567 citations

Debt, Deficits, and Finite Horizons

1985 • 2,298 citations

Habit Formation: A Resolution of the Equity Premium Puzzle

1990 • 2,223 citations

Consumption and Liquidity Constraints: An Empirical Investigation

1989 • 1,944 citations

Temporal Resolution of Uncertainty and Dynamic Choice Theory

1978 • 1,849 citations

Generalized Instrumental Variables Estimation of Nonlinear Rational Expectations Models

1982 • 1,846 citations

Substitution, Risk Aversion, and the Temporal Behavior of Consumption and Asset Returns: An Empirical Analysis

1991 • 1,765 citations

Precautionary Saving in the Small and in the Large

1990 • 1,670 citations

Lifetime Portfolio Selection By Dynamic Stochastic Programming

1969 • 1,665 citations

Econometric Modelling of the Aggregate Time-Series Relationship Between Consumers' Expenditure and Income in the United Kingdom

1978 • 1,632 citations

THE BEHAVIORAL LIFE‐CYCLE HYPOTHESIS

1988 • 1,615 citations

Finite state markov-chain approximations to univariate and vector autoregressions

1986 • 1,568 citations

Saving and Liquidity Constraints

1991 • 1,535 citations

Intertemporal Substitution in Consumption

1988 • 1,533 citations

Income, Saving, and the Theory of Consumer Behavior

1950 • 1,486 citations

The Review of Economics and Statistics

1997 • 1,453 citations

Panel data from time series of cross-sections

1985 • 1,407 citations

Testing for a Unit Root in Time Series Regression

1988 • 1,359 citations

The Adjustment of Consumption to Changing Expectations About Future Income

1981 • 1,326 citations

How Big Is the Random Walk in GNP?

1988 • 1,326 citations

The consumption of stockholders and nonstockholders

1991 • 1,223 citations

Implications of Security Market Data for Models of Dynamic Economies

1991 • 1,158 citations

On the Behaviour of Commodity Prices

1992 • 1,125 citations

Money, interest, and banking in economic development

1988 • 1,051 citations

The Sensitivity of an Empirical Model of Married Women's Hours of Work to Economic and Statistical Assumptions

1987 • 1,045 citations

Nonexpected Utility in Macroeconomics

1990 • 1,019 citations

A Simple Test of Consumption Insurance

1991 • 1,014 citations

Handbook of monetary economics

1990 • 1,001 citations

Quadrature-Based Methods for Obtaining Approximate Solutions to Nonlinear Asset Pricing Models

1991 • 986 citations

NBER macroeconomics annual 1987

1989 • 969 citations

Optimal Consumption with Stochastic Income: Deviations from Certainty Equivalence

1989 • 925 citations

Poverty and the Rate of Time Preference: Evidence from Panel Data

1991 • 924 citations

The use of time series processes to model the error structure of earnings in a longitudinal data analysis

1982 • 887 citations

Handbook of development economics

1988 • 880 citations

Univariate detrending methods with stochastic trends

1986 • 873 citations

Who is Credit Constrained in the U. S. Economy?

1990 • 820 citations

Handbook of Econometrics.

1985 • 815 citations

On the Time Consistency of Optimal Policy in a Monetary Economy

1978 • 796 citations

Are Output Fluctuations Transitory?

1987 • 771 citations

A Profitable Approach to Labor Supply and Commodity Demands over the Life-Cycle

1985 • 757 citations

Forecasting Economic Time Series

1986 • 748 citations

Full Insurance in the Presence of Aggregate Uncertainty

1991 • 702 citations

The Role of Intergenerational Transfers and Life Cycle Saving in the Accumulation of Wealth

1988 • 682 citations

The Sensitivity of Consumption to Transitory Income: Estimates from Panel Data on Households

1982 • 671 citations

The Role of Intergenerational Transfers in Aggregate Capital Accumulation

1981 • 647 citations

The Phillips curve and labor markets

1976 • 634 citations

Life Cycle, Individual Thrift, and the Wealth of Nations

1986 • 626 citations

On the Covariance Structure of Earnings and Hours Changes

1989 • 623 citations

Why is Consumption So Smooth?

1989 • 592 citations

Consumption puzzles and precautionary savings

1990 • 578 citations

The response of consumption to income

1991 • 546 citations

Risky income, life cycle consumption, and precautionary savings

1988 • 521 citations

Separable Utility and Aggregation

1959 • 519 citations

Does Saving Anticipate Declining Labor Income? An Alternative Test of the Permanent Income Hypothesis

1987 • 506 citations

Asset Pricing and Optimal Portfolio Choice in the Presence of Illiquid Durable Consumption Goods

1990 • 505 citations

The American Business Cycle: Continuity and Change.

1987 • 484 citations

Rational Expectations and the Natural Rate Hypothesis: Some Consistent Estimates

1976 • 449 citations

The permanent income hypothesis: A theoretical formulation

1977 • 440 citations

Intergenerational Transfers and Savings

1988 • 429 citations

The Time Series Consumption Function Revisited

1985 • 416 citations

The Economic Theory of Agrarian Institutions.

1990 • 395 citations

The Permanent Income Hypothesis: Estimation and Testing by Instrumental Variables

1982 • 394 citations

The University: An Owner's Manual

1990 • 393 citations

Liquidity constraints and the permanent-income hypothesis

1991 • 376 citations

Individual retirement and savings behavior

1984 • 366 citations

Ten economic studies in the tradition of Irving Fisher

1967 • 361 citations

Intertemporal Substitution in Macroeconomics

1985 • 341 citations

Hall's consumption hypothesis and durable goods

1982 • 316 citations

Taxation, Saving, and the Rate of Interest

1978 • 310 citations

Value, Capital, and Growth: Papers in Honour of Sir John Hicks.

1969 • 283 citations

The Decline in Saving: Evidence from Household Surveys

1991 • 281 citations

Optimal Properties of Exponentially Weighted Forecasts

1960 • 272 citations

Testing the Response of Consumption to Income Changes with (Noisy) Panel Data

1987 • 266 citations

The Effect of Liquidity Constraints on Consumption: A Cross-Sectional Analysis

1985 • 261 citations

Unit roots in real GNP: Do we know, and do we care?

1990 • 257 citations

Intertemporal Substitution, Risk Aversion and the Euler Equation for Consumption

1989 • 255 citations

Consumption correlatedness and risk measurement in economies with non-traded assets and heterogeneous information

1982 • 253 citations

Intertemporal dependence, impatience, and dynamics

1990 • 249 citations

The Permanent Income Hypothesis and Consumption Durability: Analysis Based on Japanese Panel Data

1985 • 216 citations

Trends, random walks, and tests of the permanent income hypothesis

1985 • 212 citations

Household Saving in LDCs: Credit Markets, Insurance and Welfare

1992 • 208 citations

Liquidity and inflation effects on consumers' expenditure

1981 • 205 citations

The Brookings Quarterly Econometric Model of the United States

1966 • 205 citations

A Long-Run Perspective on Saving

1992 • 198 citations

A Reconsideration of the Empirical Implications of Additive Preferences

1974 • 195 citations

Permanent and Transitory Movements in Labor Income: An Explanation for "Excess Smoothness" in Consumption

1990 • 195 citations

Some results on “an income fluctuation problem”

1977 • 191 citations

Intertemporal Preferences and Labor Supply

1988 • 189 citations

Social Security Benefits, Consumption Expenditure, and the Life Cycle Hypothesis

1989 • 182 citations

Interpreting econometric evidence

1981 • 181 citations

A Theory of the Consumption Function

1957 • 165 citations

Is the UK Balance of Payments Sustainable?

1990 • 162 citations

Rational habit formation

1981 • 161 citations

Have Iras Increased U. S. Saving?: Evidence From Consumer Expenditure Surveys

1990 • 153 citations

The Life-Cycle Hypothesis and the Consumption Behavior of the Elderly

1982 • 152 citations

The Effects of Taxation on Capital Accumulation

1987 • 146 citations

Finite horizons, life-cycle savings, and time-series evidence on consumption

1990 • 145 citations

Applied Consumption Analysis.

1975 • 140 citations

Tests for liquidity constraints: a critical survey and some new observations

2008 • 140 citations

Life-cycle models of consumption: Is the evidence consistent with the theory?

2008 • 139 citations

An income fluctuation problem

1976 • 138 citations

On the Estimation of Panel-Data Models with Serial Correlation When Instruments Are Not Strictly Exogenous

1992 • 133 citations

Is Consumption Too Smooth? Long Memory and the Deaton Paradox

1991 • 130 citations

Habits, Rationality and Myopia in the Life Cycle Consumption Function

1988 • 127 citations

Why have private savings rates in the United States and Canada diverged?

1987 • 120 citations

The Estimation of "Surprise" Models and the "Surprise" Consumption Function

1986 • 117 citations

The Permanent Income Hypothesis Revisited

1991 • 105 citations

The insensitivity of consumption to news about income

1988 • 100 citations

Macroeconomics and Finance: Essays in Honor of Franco Modigliani

1988 • 99 citations

Integrated regressors and tests of the permanent-income hypothesis

1988 • 96 citations

The Market Demand for Durable Goods

1957 • 92 citations

Life cycle savings and consumption constraints

1991 • 92 citations

Precautionary Saving and the Timing of Taxes

1989 • 91 citations

Macroeconomic Activity: Theory, Forecasting, and Control.

1970 • 85 citations

Expenditure on Durable Goods: A Case for Slow Adjustment

1990 • 79 citations

A note on Wiener-Kolmogorov prediction formulas for rational expectations models

1981 • 64 citations

A Century of Economics: 100 Years of the Royal Economic Society and the 'Economic Journal'.

1992 • 60 citations

Information-Aggregation Bias

1991 • 59 citations

Aggregate Stochastic Implications of the Life Cycle Hypothesis

1991 • 54 citations

A Reappraisal of Recent Tests of the Permanent Income Hypothesis

1987 • 50 citations

Perfect Price Aggregation and Empirical Demand Analysis

1979 • 50 citations

Some New Evidence on the Timing of Consumption Decisions and on Their Generating Process

1989 • 44 citations

Is Consumption Insufficiently Sensitive to Innovations in Income

1987 • 44 citations

Private Saving in Britain, Past, Present and Future

1964 • 36 citations

Dynamic Demand Functions: Some Econometric Results

1958 • 36 citations

The Intertemporal Allocation of Expenditure on Non-Durables, Services, and Durables

1989 • 30 citations

Saving and Rational Expectations: Evidence for the U.K.

1990 • 24 citations

A Note on Long-Run Automobile Demand

1957 • 22 citations

A Post'War Expenditure Function

1962 • 19 citations

Testing the Life-Cycle Hypothesis with a Norwegian Household Panel

1989 • 13 citations

The Management of the British Economy 1945-60

1965 • 11 citations