dynamics. When the model is modified in a way that permits it to match empirical measures of wealth inequality in the U.S., we … how the shock is distributed across categories of households (e.g., low-wealth versus high-wealth households) …

-simulations to investigate heterogeneity in the euro area. We quantify shocks to wealth, income and financial pressure faced by … affected the income-poor, while the declining wealth the income-rich. Although borrowers benefited from the substantial … consumption growth driven by both rich and poor households: while the former were hit by large shocks to wealth, the latter also …

. Finally, substantial crosscountry heterogeneity in marginal propensities to consume out of income and wealth components calls …

This paper studies the heterogeneity of the marginal propensity to consume out of wealth using French household surveys …. We find decreasing marginal propensity to consume out of wealth across the wealth distribution for all net wealth … assets, except in the top of the wealth distribution. Consumption is less sensitive to the value of the main residence than …

The study quantifies stock market and housing market wealth effects on households' non-durable consumption using … market gains. We also found statistically and economically significant housing wealth effects with a marginal propensity to … consume out of idiosyncratic housing wealth gains to be over 8 percent. The results from idiosyncratic equity wealth effects …

permanent income shocks helps our model to explain a substantial part of the large degree of empirical wealth heterogeneity that …

Using new micro data on household wealth from fifteen European countries, the Household Finance and Consumption Survey …, we first document the substantial cross-country variation in how various measures of wealth are distributed across … permanent income shocks we then study how cross-country differences in the wealth distribution and household income dynamics …

dynamics. When the model is modified in a way that permits it to match empirical measures of wealth inequality in the U.S., we … how the shock is distributed across categories of households (e.g., low-wealth versus high-wealth households). …