explaining the consumption path after a Marginal Efficiency of Investment shock. We use an otherwise standard medium-scale New …

A large body research shows a positive relationship between wealth and entrepreneurship and interprets the relationship … job loss and those who do not reveals generally increasing entry rates through the wealth distribution for both groups … entrepreneurship and a different measure of wealth – net housing equity – for the two groups. Second, we examine the liquidity …

wealth is difficult to establish due to many potential sources of endogeneity. Utilizing the Household Finance and … wealth position of the household only through homeownership. For the sample of inheritors we find that the local average … reductions in the net holdings of financial and other real wealth of the treated households …

financial institutions in the transmission of credit and technology shocks to the real economy. A positive credit shock, defined … between loan and deposit rates. The effects of the credit shock tend to be highly persistent even without price rigidities and …

-specific foreign output variable to capture direct inter-country linkages. In accord with the theory all variables are measured as … restrictions implied by the NK theory. The multi-country DSGE NK model is then solved to provide estimates of identified supply … through error spillover effects. Bootstrapped error bands are also provided for the cross country responses of a shock to the …

not affected by the housing wealth changes. The findings suggest that a wealth shock exerts a positive and significant … relevant waves of the Health and Retirement Study (1996-2010), we exploit the exogenous variation in the form of wealth shocks … resulting from the value of housing assets, to examine the effect of wealth on use of home health, unpaid help and nursing home …

theory of optimum currency areas. We show that the asymmetric shock of the German unification can be seen not only as the …

differ in ability and initial wealth. Borrowing constraints prevent individuals to optimally smooth consumption over the life …