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The relationship between consumption and wealth : a quantile regression approach

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Wealth shocks and macroeconomic dynamics

Cooper, Daniel; Dynan, Karen E. - 2013 - This version: June 14, 2013

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 … fluctuations in household wealth have driven major swings in economic activity. This paper considers so-called wealth effects - the …

Persistent link: https://www.econbiz.de/10009760038