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 …

the aggregate consumption to income ratio. By standard intertemporal budget constraint logic, this ratio is linked to … expectations of future income and consumption growth rates. We investigate whether these expectations suffice to explain the shifts … in the consumption-income ratio that occur during disaster periods or whether, on the other hand, consumers become more …

estimate a structural model of life-cycle consumption and credit use in which credit cards can be used for payments …

lifetime resources, on the current consumption and wealth accumulation of employees affected by the reform. In line with …

information on consumption, income and wealth, to structurally estimate a buffer-stock saving model. We exploit the information … contained in the joint dynamics of income, consumption and wealth to quantify the degree of insurance against income risk. The …

perfect foresight. In this setting, the consumption and saving decisions of city residents are determined jointly with their … choice of location, thereby offering an initial step to understanding how housing services influence non-durable consumption … durable consumption by the attributes and amenities it provides occupants. These attributes are limited in supply, indivisible …

consumption-saving behavior. We construct a novel consumption-saving model where the household must infer the persistent component … marginal propensity to consume because the short run covariance between income growth and consumption growth increases when … can be identified from panel data on income and consumption. Finally, we estimate a high degree of knowledge in the Panel …

This paper investigates the impact of financial liberalization on the relationship between consumption and total wealth … where financial liberalization, by signalling a future reduction in the incomplete markets component of consumption growth …, increases the current consumption-wealth ratio. From the model, an aggregate long-run relationship is derived between …

information on consumption, income and wealth, to structurally estimate a buffer-stock saving model. We exploit the information … contained in the joint dynamics of income, consumption and wealth to quantify the degree of insurance against income risk. The …

information on consumption, income and wealth, to structurally estimate a buffer-stock saving model. We exploit the information … contained in the joint dynamics of income, consumption and wealth to quantify the degree of insurance against income risk. The …