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We estimate this equation for a panel of 15 OECD countries over the period 1972\u20132007, taking into account parameter heterogeneity, endogeneity and error cross\u2010sectional dependence using a GMM version of the common correlated effects mean group estimator. Small\u2010sample properties are demonstrated using Monte Carlo simulations. The estimation results support income growth as the only variable with significant predictive power for aggregate consumption growth. Copyright \u00a9 2013 John Wiley &amp; Sons, Ltd.<\/jats:p>","DOI":"10.1002\/jae.2338","type":"journal-article","created":{"date-parts":[[2013,6,20]],"date-time":"2013-06-20T01:14:38Z","timestamp":1371690878000},"page":"431-453","source":"Crossref","is-referenced-by-count":19,"title":["THE PREDICTABILITY OF AGGREGATE CONSUMPTION GROWTH IN OECD COUNTRIES: A PANEL DATA ANALYSIS"],"prefix":"10.1002","volume":"29","author":[{"given":"Gerdie","family":"Everaert","sequence":"first","affiliation":[{"name":"SHERPPA Ghent University  Belgium"}],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Lorenzo","family":"Pozzi","sequence":"additional","affiliation":[{"name":"Department of Economics Erasmus University Rotterdam; and Tinbergen Institute  Rotterdam Netherlands"}],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"311","published-online":{"date-parts":[[2013,6,19]]},"reference":[{"key":"e_1_2_9_2_1","unstructured":"BasuS KimballMS.2002.Long\u2010run labor supply and the elasticity of intertemporal substitution for consumption. 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