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Both textbook economics and common sense teach us that the value of household wealth should be related to consumer … in consumption. This paper provides evidence that a surprisingly small fraction of the variation in household net worth …
Persistent link: https://www.econbiz.de/10013313222
Italian household panel data (SHIW) of 1989-2002. We found all households react similarly to aggregate housing and stock …
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This paper evaluates the asymmetric transmission effects of housing wealth, household debt and financial assets on …
Persistent link: https://www.econbiz.de/10013492493
We study the redistributive effects of surprise inflation combining administrative bank data with an information provision experiment during an episode of historic inflation. On average, households are well-informed about prevailing inflation and are concerned about its impact on their wealth;...
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This paper studies why investors buy dividend-paying assets and how they time their consumption accordingly. We combine administrative bank data linking customers' consumption transactions and income to detailed portfolio data and survey responses on financial behavior. We find that private...
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In this paper we study the role of household portfolio rebalancing channel for the aggregate and redistributive effects … subsequent wealth effect on consumption. In order to jointly study these effects, we introduce an heterogeneous household life … reduction in expected return on household portfolio. However, the strength of these two forces notably varies depending on …
Persistent link: https://www.econbiz.de/10013321564