Growth-Rate and Uncertainty Shocks in Consumption: Cross-Country Evidence
---- Acknowledgements ----
We would like to thank Mariana Garcia and Channing Verbeck for excellent research assistance. We would like to thank Andrew Ang, Ravi Bansal, Geert Bekaert, Jaroslav Borovicka, John Campbell, John Cochrane, Tim Cogley, Lars Hansen, John Heaton, Ralph Koijen, Lars Lochstoer, Martin Lettau, Sydney Ludvigson, Stavros Panageas, Monika Piazzesi, Bernard Salanie, Martin Schneider, Adrien Verdelhan and seminar participants at various institutions for valuable comments and discussions. We thank the Columbia University Center for International Business Education and Research for financial support. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.