Business Cycle Fluctuations and Excess Sensitivity of Private Consumption

Gert Peersman () and Lorenzo Pozzi

Economica, 2008, vol. 75, issue 299, 514-523

Abstract: We investigate whether business cycle fluctuations affect the degree of excess sensitivity of private consumption growth to disposable income growth. Using multivariate state space methods and quarterly US data for the period 1965–2000, we find that excess sensitivity is significantly higher during recessions.

Date: 2008
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https://doi.org/10.1111/j.1468-0335.2007.00624.x

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Working Paper: Business cycle fluctuations and excess sensitivity of private consumption (2007)
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