labor and capital, higher intertemporal elasticity of substitution in consumption, reforms aiming at increasing the relative …

shocks. Consistent with the empirical evidence, the simulation results of the model show that the consumption of retirees is …English Abstract: This paper explores the heterogeneous effects of monetary policy on consumption between workers and … retirees. Using household-level data from the U.S., Italy, Japan and Korea, we first show that the consumption of retirees …

Post Keynesian stagnation theory argues that slower population growth dampens consumption and investment. A New … growth, on the contrary, causes a lack of saving and thus rising rates. Moreover, the recent fall in market interest rates …

Post Keynesian stagnation theory argues that slower population growth dampens consumption and investment. A New … growth, on the contrary, causes a lack of saving and thus rising rates. Moreover, the recent fall in market interest rates …

This paper quantifies the extent of heterogeneity in consumption responses to changes in real interest rates and house … portfolios, observed in the Household Finance and Consumption Survey (HFCS) for these countries. We then show that the … heterogeneity in household finances implies that responses of consumption to changes in the real interest rate and in house prices …

This paper quantifies the extent of heterogeneity in consumption responses to changes in real interest rates and house …, observed in the Household Finance and Consumption Survey (HFCS) for these countries. We then show that the heterogeneity in … household finances implies that responses of consumption to changes in the real interest rate and in house prices differ …

This paper quantifies the extent of heterogeneity in consumption responses to changes in real interest rates and house …, observed in the Household Finance and Consumption Survey (HFCS) for these countries. We then show that the heterogeneity in … household finances implies that responses of consumption to changes in the real interest rate and in house prices differ …

to account for anticipation effects on consumption. We investigate this using high-frequency spending and balance sheet … with a standard buffer-stock consumption model, and implies that it is less effective to target stimulus to low liquidity …