replacing the set of existing taxes on financial and real assets with a single net wealth tax …

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

global wealth of an unanticipated shock to U.S. financial markets. For every 10 percent decline in the dollar, U.S. equity … markets, and U.S. bond markets, total wealth losses to foreigners could amount to about 5 percentage points of foreign GDP … emerging markets (scaled by GDP) are very similar; and (iv) based on their reserve positions, wealth losses of emerging market …

This paper examines the role increasing personal wealth and home equity withdrawal (HEW) have had in the decline in the … while making housing wealth more liquid as HEW becomes easier over time. Regression analysis indicates the expected negative …

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 …

This paper analyzes the existence of 'wealth effects' derived from net equity (in the form of housing, financial assets …-2017. Overall, wealth effects are found to be relatively large and significant for housing wealth, but less so for other types of … wealth, including stocks. Furthermore, the analysis shows how these estimated marginal propensities to consume (MPC) from …