Title: International evidence on sticky consumption growth
Description: "We estimate the degree of 'stickiness' in aggregate consumption growth (sometimes interpreted as reflecting consumption habits) for thirteen advanced economies.  We find that, after controlling for measurement error, consumption growth has a high degree of autocorrelation, with a stickiness parameter of about 0.7 on average across countries.  The sticky-consumption-growth model outperforms the random walk model of Hall (1978), and typically fits the data better than the popular Campbell and Mankiw (1989) model.  In several countries, the sticky-consumption-growth and Campbell-Mankiw models work about equally well"--National Bureau of Economic Research web site.