changes in income distribution and in private wealth on consumption and investment covering a period from as early as 1855 … effects are found to be positive and significant for consumption in the USA and UK, but weaker in France and Germany …

business closures preclude regional relocation of offline consumption. …

This paper quantifies the extent of heterogeneity in consumption responses to changes in real interest rates and house …-cycle incomplete-markets model with a liquid financial asset and illiquid housing to match the large heterogeneity of households asset … portfolios, observed in the Household Finance and Consumption Survey (HFCS) for these countries. We then show that the …

This paper quantifies the extent of heterogeneity in consumption responses to changes in real interest rates and house …-cycle incomplete-markets model with a financial asset and housing to match the large heterogeneity of households asset portfolios …, observed in the Household Finance and Consumption Survey (HFCS) for these countries. We then show that the heterogeneity in …

This paper quantifies the extent of heterogeneity in consumption responses to changes in real interest rates and house …-cycle incomplete-markets model with a financial asset and housing to match the large heterogeneity of households asset portfolios …, observed in the Household Finance and Consumption Survey (HFCS) for these countries. We then show that the heterogeneity in …

countries' standards, keeping domestic consumption growth at surprisingly low levels. As a consequence, despite the size of its …