The life-cycle theory of consumption draws a well-established distinction between the implications for consumption of …' price expectations are influencial in determining the consumption repsonse to shocks. …

decision to deleverage has negative implications for household consumption. …

This paper estimates the wealth effects on consumption in the euro area as a whole. I show that: (i) financial wealth …; (iii) consumption growth exhibits strong persistence and responds sluggishly to shocks; and (iv) the immediate response of … consumption to wealth is substantially different from the longrun wealth effects. By disaggregating financial wealth into its …

This paper adds to the literature on wealth effects on consumption by disentangling financial wealth effects from … of all wealth variables on euro area consumption is significant and positive in most specifications for both datasets ….6 cents per euro of financial wealth spent on consumption according to the estimations with euro area aggregate data. However …

on consumption. Using modern panel data econometric techniques and quarterly data for the period 1990:1-2008:2, we show … countries; (iii) housing wealth effects have increased for Asian coutries in recent years; and (iv) consumption reacts stronger …

output changes. In the euro area investment is the predominant driver of output changes, while in the U.S. consumption shifts … several potential explanations for it. While the evidence seems to point at differences in consumption responses, rather than … investment, as the proximate cause for this fact, the source of the consumption difference remains a puzzle. JEL Classification …

Based on the households' utility maximisation, a closed form approximation of the consumption function is derived and … the deep parameters of the consumption function are estimated using aggregate euro area data. The novel element in our … lot of information on future income changes, but that also lagged consumption, through habit formation, plays an important …

stock' model of optimal consumption in the presence of labor income uncertainty and credit constraints. Saving in the model …

sentiment and consumption expenditures for the United States and the euro area. It shows under which circumstances confidence … indicators can be a good predictor of household consumption even after controlling for information in economic fundamentals …. Overall, the results show that the consumer confidence index can be in certain circumstances a good predictor of consumption …