. Moreover, inadequate social protection is creating poverty and dampening consumption. The paper presents projections of Korea …

stabilization, the RSF can improve welfare by realocating government consumption savings during booms towards public investment …

relationship. First, debt overhang impairs household consumption when negative shocks hit. Second, increases in household debt …

stock' model of optimal consumption in the presence of labor income uncertainty and credit constraints. Saving in the model … is affected by the gap between ‘target' and actual wealth, with the target wealth determined by credit conditions and … saving rate's long-term decline, while fluctuations in net wealth and uncertainty capture the bulk of the business …

This paper analyzes the existence of 'wealth effects' derived from net equity (in the form of housing, financial assets …, and total net worth) on consumption. The study uses longitudinal household-level data -- from the Panel Study of Income …-2017. Overall, wealth effects are found to be relatively large and significant for housing wealth, but less so for other types of …

We attempt to disentangle income and wealth effects on consumption by disaggregating both the different types of income … and wealth. We estimate a consumption function for a panel of quarterly data for 14 advanced economies spanning 1998 to … different components of income and wealth. While fiscal policy had direct effects on consumption, the analysis suggests that …

theimplications of these findings for several strands of the wealth inequality debate …We provide a systematic analysis of the properties of individual returns to wealth using twelve years ofpopulation data … standard deviation of 8%). Second,heterogeneity in returns does not arise merely from differences in the allocation of wealth …

globalization raises wealth inequality in a financially-developed economy initially due to foreign capital pressing up domestic … contribution of this role to rising wealth concentration among American households. I highlight the following points: 1) financial … households to reallocate wealth toward risky assets while impoverished households increase their debt. Wealth concentration …

rich followed a similar pattern, the result of wealth effects associated with a boom-bust in asset prices. Indeed, the … swings in saving by the rich must actually have played the most important role in the consumption boom-bust, since since the … top 10 percent account for almost half of income and two-thirds of wealth. In other words, the rich played a critical role …

the life cycle when one faces not only idiosyncratic income risks, but also changes in longevity risk and pension benefits … important self-insurance channels in responding to changes in longevity risk and pension benefits, and the responses via …