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Macroeconomic Volatility, Consumption Behaviour and Welfare : A Cross-Country Analysis
Montalbano, Pierluigi - 2012
This work presents a robust empirical approach to dealing with the issue of the long run relationship between macroeconomic volatility, consumption behaviour and welfare for a large sample of countries. Differing from previous works, our empirical strategy is grounded on consumption and takes...
Persistent link: https://www.econbiz.de/10013102776
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Wealth portfolio of Hungarian households - urban legends and facts
Vadas, Gábor (contributor) - 2007
. -- household wealth ; housing subsidy scheme ; house price …
Persistent link: https://www.econbiz.de/10003604923
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Financial Crisis and Public Policy
Gokhale, Jagadeesh - 2009
This Policy Analysis explains the antecedents of the current global financial crisis and critically examines the reasoning behind the U.S. Treasury and Federal Reserve's actions to prop up the financial sector. It argues that recovery from the financial crisis is likely to be slow with or...
Persistent link: https://www.econbiz.de/10013156705
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Wealth effects in emerging market economies
Peltonen, Tuomo; Sousa, Ricardo M.; Vansteenkiste, Isabel - 2009
We build a panel of 14 emerging economies to estimate the magnitude of housing, stock market, and money wealth eÞects on consumption. Using modern panel data econometric techniques and quarterly data for the period 1990:1-2008:2, we show that: (i) wealth effects are statistically significant...
Persistent link: https://www.econbiz.de/10003831615
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Consumption, Wealth, Stock and Government Bond Returns : International Evidence
Afonso, António - 2011
In this paper, we show, from the consumer's budget constraint, that the residuals of the trend relationship among consumption, aggregate wealth, and labour income should predict both stock returns and government bond yields. We use data for several OECD countries and find that when agents expect...
Persistent link: https://www.econbiz.de/10013128867
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The COVID-19 Consumption Game-Changer : Evidence from a Large-Scale Multi-Country Survey
Hodbod, Alexander; Hommes, Cars H.; Salle, Isabelle - 2021
Prospective economic developments depend on the behavior of consumer spending. A key ques- tion is whether private expenditures recover once social distancing restrictions are lifted or whether the COVID-19 crisis has a sustained impact on consumer confidence, preferences, and, hence, spending....
Persistent link: https://www.econbiz.de/10013321652
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The COVID-19 Consumption Game-Changer : Evidence from a Large-Scale Multi-Country Survey
Hodbod, Alexander; Hommes, Cars H.; Huber, Stefanie; … - 2021
Prospective economic developments depend on the behavior of consumer spending. A key question is whether private expenditures recover once social distancing restrictions are lifted or whether the COVID-19 crisis has a sustained impact on consumer confidence, p references, and, hence, spending....
Persistent link: https://www.econbiz.de/10013324580
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Understanding the Macro-Financial Effects of Household Debt : A Global Perspective
Alter, Adrian - 2018
We confirm the negative relationship between household debt and future GDP growth documented in Mian, Sufi, and Verner … relationship. First, debt overhang impairs household consumption when negative shocks hit. Second, increases in household debt … be systematically neglected due to investors' overoptimistic expectations associated with household debt booms. In …
Persistent link: https://www.econbiz.de/10012918565
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Household Deleveraging and Saving Rates : A Cross-Country Analysis
Bouis, Romain - 2015
A number of economists argue that household deleveraging can exert a significant drag on the economic recovery by … household saving rates and changes in debt-to-income ratios. This relationship is however asymmetric, being statistically and … adjustment in saving rates associated with household deleveraging may widely differ across countries and may be overestimated for …
Persistent link: https://www.econbiz.de/10013034205
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Household Deleveraging and Saving Rates : A Cross-Country Analysis
Bouis, Romain - 2022
Historically high household debt in several economies is calling for a deleveraging, but according to some economists …, this paper finds evidence of a negative relationship between changes of household debt-to-income ratios and saving rates … suggest that the economic cost associated with household deleveraging may be overestimated and motivate a deleveraging via …
Persistent link: https://www.econbiz.de/10013306732