How sizable is the wealth effect on consumption in euro area countries? To address this question, we use newly … available harmonized euro area wealth data and the methodology in Carroll et al. (2011b). We find that the marginal propensity … to consume out of total wealth averaged across the largest euro area economies is around 3 cents per euro, with a …

countries. We estimate the MPC based on a cross-country harmonized household level dataset which combines surveys on wealth …This paper studies the heterogeneity of the marginal propensity to consume out of wealth (MPC) both across and within … are very similar to those obtained on aggregate data and show substantial heterogeneity across countries. The wealth …

reduction in homeownership across generations. Lower-income households find it harder to buy housing, and as a result accumulate … less wealth. …

holdings and liabilities of all households within a country. In principle, when household wealth surveys are explicitly …The financial accounts of the household sector within the system of national accounts report the aggregate asset …. Thereafter we investigate missing top tail observation from wealth surveys as a source of discrepancy. By fitting a Pareto …

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