consumption, aggregate wealth, and labour income should predict both stock returns and government bond yields. We use data for … consumption to rise. Regarding government bond yields, when bonds are seen as a component of asset wealth, then investors react in … temporarily reduce their consumption. …

deviations from the common trend among consumption, aggregate wealth, and labour income, cay, and focus on the implications for … future stock returns to be higher, they will temporarily allow consumption to rise. Regarding housing returns, if housing … substitutes consumption will be temporarily reduced. …

consumption, aggregate wealth, and labour income should predict both stock returns and housing returns. We use quarterly data for … temporarily allow consumption to rise. Regarding housing returns, if housing assets are complementary to stocks, then investors … their consumption. …

consumption, aggregate wealth, and labour income should predict both stock returns and housing returns. We use quarterly data for … temporarily allow consumption to rise. Regarding housing returns, if housing assets are complementary to stocks, then investors … their consumption. …

deviations from the common trend among consumption, aggregate wealth, and labour income, cay, and focus on the implications for … future stock returns to be higher, they will temporarily allow consumption to rise. Regarding housing returns, if housing … substitutes consumption will be temporarily reduced. …

This paper assesses the importance of nonlinearity in estimating the wealth effects on consumption for the US, the UK … financial wealth effects with housing wealth effects. We also assess the magnitude of the response of consumption using both a … elasticity of consumption with respect to aggregate wealth is largest for the UK and housing wealth effects do not seem to be …

consumption, aggregate wealth, and labour income should predict both stock returns and government bond yields. We use data for … consumption to rise. Regarding government bond yields, when bonds are seen as a component of asset wealth, then investors react in … temporarily reduce their consumption. …

We build a panel of 14 emerging economies to estimate the magnitude of wealth effects on consumption. Using modern …

on consumption. Using modern panel data econometric techniques and quarterly data for the period 1990:1-2008:2, we show … countries; (iii) housing wealth effects have increased for Asian coutries in recent years; and (iv) consumption reacts stronger …