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Analyzing the Effects of Financial and Housing Wealth on Consumption Using Micro Data
Caceres, Carlos - 2019
, and total net worth) on consumption. The study uses longitudinal household-level data -- from the Panel Study of Income …
Persistent link: https://www.econbiz.de/10012868265
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It's Not All Fiscal : Effects of Income, Fiscal Policy, and Wealth on Private Consumption
Jaramillo, Laura - 2015
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 … 2012, using an error correction specification. We find a significant long-term relation between consumption and the …
Persistent link: https://www.econbiz.de/10013021438
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Financial Concerns and the Marginal Propensity to Consume in COVID Times : Evidence from UK Survey Data
Albuquerque, Bruno; Green, Georgina - 2022
We study how household concerns about their future financial situation may affect the marginal propensity to consume (MPC) during the COVID-19 pandemic. We use a representative survey of UK households to compute the MPC from a hypothetical transfer of £500. We find that household expectations...
Persistent link: https://www.econbiz.de/10013294801
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Non-Primary Home Buyers, Shadow Banking, and the US Housing Market
Alter, Adrian; Dernaoui, Zaki - 2021
This paper studies the US housing market using a proprietary and comprehensive dataset covering nearly 90 million residential transactions over 1998-2018. First, we document the evolution of different types of investment purchases such as those conducted by short-term buyers, out-of-state...
Persistent link: https://www.econbiz.de/10013315117
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Household Vulnerability to Income Shocks in Emerging and Developing Asia : The Case of Cambodia, Nepal and Vietnam
De Stefani, Alessia; Laws, Athene; Sollaci, Alexandre - 2022
We leverage survey data from emerging and developing Asia to highlight different aspects of household vulnerability to income shocks arising from the Covid-19 pandemic: occupation in Cambodia, self-insurance mechanisms in Nepal, and financial leverage in Vietnam. Occupation and ex-ante income...
Persistent link: https://www.econbiz.de/10013291774
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Household Debt, Consumption, and Monetary Policy in Australia
Loukoianova, Elena - 2019
, the paper analyzes the impact of a monetary policy shock on households' current consumption and durable expenditures … depends on their debt and income levels. In particular, households with higher debt tend to reduce their current consumption …
Persistent link: https://www.econbiz.de/10012869296
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Excessive Private Sector Leverage and Its Drivers : Evidence from Advanced Economies
Jarmuzek, Mariusz - 2017
Nonfinancial private sector debt increased significantly in advanced economies prior to the global financial crisis and, with a few exceptions, deleveraging has been limited. Furthermore, in some countries households and corporations have continued to accumulate debt. Drawing on the literature,...
Persistent link: https://www.econbiz.de/10012956484
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How Effective Were Job-Retention Schemes During the COVID-19 Pandemic? A Microsimulation Approach for European Countries
Lam, W. Raphael; Solovyeva, Alexandra - 2023
The COVID-19 pandemic had posed a dramatic impact on labor markets across Europe. Forceful fiscal responses have prevented an otherwise sharper contraction. Many countries introduced or expanded job-retention schemes to preserve jobs and support households. This paper uses a microsimulation...
Persistent link: https://www.econbiz.de/10014254891
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The U.S. Personal Saving Rate
Ouliaris, Sam - 2018
This paper develops a time series model for aggregate consumption to predict the U.S. personal saving rate. It then … uses the model to test whether there has been a structural break in consumption behavior because of the 2008 financial …
Persistent link: https://www.econbiz.de/10012913898
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Fading Ricardian Equivalence in Ageing Japan
Saito, Ikuo - 2016
Japan seems to be turning less Ricardian, a trend set to continue. First, the discount wedge seems to have risen, suggesting that consumers have become more myopic. Second, some evidence points to the possibility that an increasing number of households are liquidity constrained. If these...
Persistent link: https://www.econbiz.de/10012977770