The effect of wealth on consumption is an issue of longstanding interest to economists. Analysts believe that … impact of changes in wealth on household consumption and the overall macroeconomy. There is an extensive existing literature …

How sizable is the wealth effect on consumption in euro area countries? To address this question, we use newly …

We study an Agent-based model of household-bank relationships where households borrow for the purpose of consumption …. Desired consumption is driven by households disposable income as well as a social norm of consumption. If households care … conduct several computational experiments, where the absence of the social consumption norm (Joneses effect) functions as …

stagnation of household consumption during the 1990s and find that the stagnation of household disposable income, the decline in …

We study an Agent-based model of household-bank relationships where households borrow for the purpose of consumption …. Desired consumption is driven by households disposable income as well as a social norm of consumption. If households care … conduct several computational experiments, where the absence of the social consumption norm (Joneses effect) functions as …

Evidence from several countries reveals a substantial drop in household consumption around retirement age that some … panel survey, we find no evidence of a consumption-retirement puzzle in Spain for the period of 1985-2004.  However, we find …

This paper studies the consumption response to an increase in the domestic value of foreign currency household debt … during a large depreciation. We use detailed consumption survey data that follows households for four years around Hungary …'s 2008 currency crisis. We find that, relative to similar local currency debtors, foreign currency debtors reduce consumption …

This chapter reviews empirical estimates of differential income and consumption growth across individuals during … recessions. Most existing studies examine the variation in income and consumption growth across individuals by sorting on ex ante … or contemporaneous income or consumption levels. We build on this literature by showing that differential shocks to …

consumption across states of nature, one must also consider the assets' effects on households' ability to smooth consumption over … returns correlate negatively with income shocks) even though the assets offer identical opportunities to smooth consumption … be substantial (above 1 percent of certainty-equivalent consumption), the assets we consider can only mitigate a …