The study quantifies stock market and housing market wealth effects on households' non-durable consumption using … market and housing market wealth effects on households' non-durable consumption using Italian household panel data (SHIW) of … market wealth effects on households' non-durable consumption using Italian household panel data (SHIW) of 1989-2002. We found …

evidence that the interest sensitivity of consumption becomes significantly lower when consumers 'excessively discount' the …

consumption and the level of government debt. In countries with a high level of government debt, a fiscal expansion is partly … crowded out by a fall in private consumption. In contrast, in low debt countries, private consumption is insensitive to …

external finance premium (EFP), that may vary over the business cycle, on private consumption in Europe. A consumption model … consumption, but also external finance, which availability depends on the EFP. The empirical analysis shows an accelerator effect … of the EFP on consumption for Germany, Italy and the Netherlands. In contrast, for France, the United Kingdom and Belgium …

consumption. I find that globalisation (a reduction in the costs of international trade) causes a monetary expansion to have a …