consumption, aggregate wealth, and labour income should predict both stock returns and housing returns. We use quarterly data for … temporarily allow consumption to rise. Regarding housing returns, if housing assets are complementary to stocks, then investors … their consumption. …

deviations from the common trend among consumption, aggregate wealth, and labour income, cay, and focus on the implications for … future stock returns to be higher, they will temporarily allow consumption to rise. Regarding housing returns, if housing … substitutes consumption will be temporarily reduced. …

We use a life-cycle model of consumption and portfolio choice to study the effects of social security on the investment …

We use a life-cycle model of consumption and portfolio choice to study the effects of social security on the investment …

We use a life cycle model of consumption and portfolio choice to study the effects of social security on the investment …

The life-cycle hypothesis implies that consumption would not decline at retirement. However, several studies found … relevant declines in food consumption after retirement for the United States. Others concluded that this contradiction of the … life-cycle hypothesis is solved by allowing for broader measures of consumption than food. Using repeated cross …

This paper uses the newly constructed Luxembourg Wealth Study data to document cross-country variation in homeownership … rates and the homeownership-income inequality among young households in Finland, Germany, Italy, the UK and the US, and … relate it to cross-country differences in mortgage market maturity. We find that aside from Italy, homeownership rates and …

uncertainty on households' consumption-savings decision. Applying a structural demand model to German survey data, we estimate the … significant effects of precautionary savings on the consumption-savings decision. As a result of a doubling of transitory income …