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 …

incorporates credit channels by assuming that liquidity-constrained consumers not only use current income for financing their …This paper studies the macroeconomic relevance of credit channels of monetary policy by examining the impact of the … external finance premium (EFP), that may vary over the business cycle, on private consumption in Europe. A consumption model …

This paper estimates the wealth effect on consumption of both equity and housing wealth, Using data across 16 … consumption is higher than the equivalent increase in equity wealth; countries with market- based financial systems have larger …

The simple one -good model of life-cycle consumption requires consumption smoothing. According to previous results … based on partial spending and on synthetic panels, British and U.S. households apparently reduce consumption at retirement … one -good model of life-cycle consumption requires consumption smoothing. According to previous results based on partial …

incorporates credit channels by assuming that liquidity-constrained consumers not only use current income for financing their …This paper studies the macroeconomic relevance of credit channels of monetary policy by examining the impact of the … external finance premium (EFP), which may vary over the business cycle, on private consumption in Europe. A consumption model …

The Basel 3 Liquidity Coverage Ratio (LCR) is a micro prudential instrument to strengthen the liquidity position of … regulatory rule can have negative externalities. We simulate the systemic implications of the LCR by a liquidity stress …

analysis suggests that preferential treatment in liquidity and capital regulation increases banks' demand for government bonds … beyond their own risk appetite. Liquidity and capital regulation also seem to incentivize banks to substitute other bonds …

This paper analyzes the impact of a liquidity requirement similar to the Basel 3 Liquidity Coverage Ratio (LCR) on … find that banks which are just above/below their quantitative liquidity requirement do not charge higher interest rates for …