, and total net worth) on consumption. The study uses longitudinal household-level data -- from the Panel Study of Income … wealth are closely linked to household characteristics, including income and demographic factors. Finally, underlying … structural changes in household characteristics point to potentially lower aggregate MPCs from wealth going forward …

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 …

. Supply-side drivers, valuation, household debt, and financial conditions jointly play a key role in forecasting house price …-level data, we identify households vulnerable to potential housing shocks and assess the riskiness of household debt …

Historically high household debt in several economies is calling for a deleveraging, but according to some economists …, this adjustment can slow GDP growth by weighing on consumption. Using a sample of advanced and emerging market economies …, this paper finds evidence of a negative relationship between changes of household debt-to-income ratios and saving rates …

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 …

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 …