Australian data, we model non-price credit supply conditions within equilibrium correction models of consumption, house prices …, but also interact with key economic variables. We show that credit conditions impact on consumption by: (i) lowering the … real activity; and (iii) facilitating intertemporal consumption smoothing. …

This paper proposes a theoretical explanation of the empirical finding that private consumption increases in response … are sticky). Second, general non-separable preferences over consumption and leisure should be such that Frisch labor … supply elasticity is lower than the constant-consumption elasticity; this implies that constant-consumption labor supply …

the agent with an intermediary. We then show that our contract economy is equivalent to a consumption-savings economy with …

-sectional distributions of hours worked, consumption and earnings. From 1967 to 1996 cross-sectional dispersion of earnings increased more … hours worked remained roughly constant, and consumption inequality increased only modestly. Using data from the PSID, we …

markets, often attributed to fixed costs of market entry. However, portfolio shares also rise with wealth among those … employed to explain aggregate country-level home bias, also produces non-trivial heterogeneity in portfolios across wealth …

cycle, of several dimensions of economic inequality, including wages, labor earnings, income, consumption, and wealth. After … distribution. Consumption inequality increased less than disposable income inequality, and tracked the latter much more closely at …

behavior imply that the log consumption-aggregate (human and nonhuman) wealth ratio forecasts the expected return on aggregate … components may be expressed in terms of observable variables, namely in terms of consumption, nonhuman wealth and labor income …This paper studies the role of detrended wealth in predicting stock returns. We call a transitory movement in wealth …

indicate that in the South consumption should fall more than in the North when the male household head becomes unemployed. This …In this paper we analyse the relationship between unemployment and consumption. We study this relationship with panel … empirical results indicate that an increase in the duration of unemployment spells of male household heads is associated with …

one (HVE) where every household is financially constrained at the time of purchasing its housing stock. In a HVE (relative …