fluctuations in household wealth have driven major swings in economic activity. This paper considers so-called wealth effects - the … impact of changes in wealth on household consumption and the overall macroeconomy. There is an extensive existing literature …The effect of wealth on consumption is an issue of longstanding interest to economists. Analysts believe that …

countries. We estimate the MPC based on a cross-country harmonized household level dataset which combines surveys on wealth …. Fifth, we find evidences that housing prices shock decreases consumption inequality while financial wealth shocks have a …This paper studies the heterogeneity of the marginal propensity to consume out of wealth (MPC) both across and within …