This paper investigates the potentially non-linear relation between households' indebtedness and their consumption … previous studies, we find a negative effect of households' indebtedness on their consumption, even in the absence of negative …, rather than its overall sustainability, that leads households to reduce their consumption. We perform as well a threshold …

This paper investigates the potentially non-linear relation between households' indebtedness and their consumption … Survey. Unlike previous studies, we find a negative effect of households' indebtedness on their consumption, even in the …-to-day sustainability of the debt, rather than its overall sustainability, that leads households to reduce their consumption. To explore …

This paper investigates the potentially non-linear relation between households' indebtedness and their consumption … previous studies, we find a negative effect of households' indebtedness on their consumption, even in the absence of negative …, rather than its overall sustainability, that leads households to reduce their consumption. We perform as well a threshold …

utility to differ between households with and without offspring. Our estimates imply a very strong utility of residual wealth …-quarters of aggregate wealth at age 85. More surprisingly, we estimate similar utility of residual wealth for households with and …

wealth declines can have considerable negative consumption effects in the short run, households have apparently been able, in …