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This paper analyzes the wealth effect on consumption in France by relying on two original household surveys. First, it … on household self-assessed changes in future consumption (survey PATER). Besides the direct wealth effect, our results …
Persistent link: https://www.econbiz.de/10013037537
The past two decades have seen substantial deregulation in the financial sectors of most OECD countries. The main motivation was to improve efficiency within the financial system, but the macroeconomic implications might go beyond this objective with impacts on the business cycle and the...
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luxury goods. Moreover, uncertainty reduces household propensity to invest in mutual funds. These results support the notion … that macroeconomic uncertainty can impact household decisions and have large negative effects on economic outcomes …
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We estimate the degree of "stickiness" in aggregate consumption growth (sometimes interpreted as reflecting consumption habits) for thirteen advanced economies. We find that, after controlling for measurement error, consumption growth has a high degree of autocorrelation, with a stickiness...
Persistent link: https://www.econbiz.de/10003778438
We estimate the degree of 'stickiness' in aggregate consumption growth (sometimes interpreted as reflecting consumption habits) for thirteen advanced economies. We find that, after controlling for measurement error, consumption growth has a high degree of autocorrelation, with a stickiness...
Persistent link: https://www.econbiz.de/10003735948