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Stock Market Volatility, Consumption and Investment; An Evaluation of the Uncertainty Hypothesis Using Post-War U.S. Data

Raunig, Burkhard; Scharler, Johann - 2011

We estimate the effects of stock market volatility on the growth rates of durable consumption, non-durable consumption … adverse effects on the growth rates of investment and durable consumption, whereas the in uence on non-durable consumption …

Persistent link: https://www.econbiz.de/10013370085

The housing wealth effect on consumption reconsidered

Lindner, Fabian - 2014

Much of the literature on the effect of housing wealth on consumption has been embedded in a simple life-cycle model in … changes in consumption. However, this might constitute a fallacy of composition. Such models ignore that changes in housing … the classic Ando-Modigliani consumption function augmented by housing wealth can be deduced. It is shown that the deeper …

Persistent link: https://www.econbiz.de/10010337472

The housing wealth effect on consumption reconsidered

Lindner, Fabian - 2014

Much of the literature on the effect of housing wealth on consumption has been embedded in a simple life-cycle model in … changes in consumption. However, this might constitute a fallacy of composition. Such models ignore that changes in housing … classic Ando-Modigliani consumption function augmented by housing wealth can be deduced. It is shown that the deeper …

Persistent link: https://www.econbiz.de/10010335898

The Housing Wealth Effect on Consumption Reconsidered

Lindner, Fabian - 2013

Much of the literature on the effect of housing wealth on consumption has been embedded in a simple life-cycle model in … changes in consumption. However, this might be a fallacy of composition. Such models ignore that changes in housing wealth … the classic Ando-Modigliani consumption function augmented by housing wealth can be deduced. It is shown that the deeper …

Persistent link: https://www.econbiz.de/10010460538

The housing wealth effect on consumption reconsidered

Lindner, Fabian - 2013

Persistent link: https://www.econbiz.de/10009772970

Distribution, wealth and demand regimes in historical perspective. USA, UK, France and Germany, 1855-2010

Stockhammer, Engelbert; Rabinovich, Joel; Reddy, Niall - 2018

changes in income distribution and in private wealth on consumption and investment covering a period from as early as 1855 … effects are found to be positive and significant for consumption in the USA and UK, but weaker in France and Germany …

Persistent link: https://www.econbiz.de/10011891342

Disaster risk, inequality, and fiscal sustainability

Le, Anh H.; Park, Donghyun; Beirne, John; Uddin, … - 2024

"hand-to-mouth" agents suffer a drop in consumption that is three times larger than that of the Ricardian households …

Persistent link: https://www.econbiz.de/10015195393

Do Banks Lend Less in Uncertain Times?

Raunig, Burkhard; Scharler, Johann; Sindermann, Friedrich - 2014

We study the development of bank lending in the U.S. after four large jumps in uncertainty using an event study approach. We find that more liquid banks reduce lending less than banks with smaller liquidity ratios after a surge in uncertainty. Lending by smaller banks is also less responsive to...

Persistent link: https://www.econbiz.de/10013370111

Bank finance versus bond finance: What explains the differences between US and Europe?

De Fiore, Fiorella; Uhlig, Harald - 2005

We present a dynamic general equilibrium model with agency costs, where heterogenous firms choose among two alternative instruments of external finance - coporate bonds and bank loans. We characterize the financing choice of firms and the endogeous financial structure of the economy. The...

Persistent link: https://www.econbiz.de/10010263601

The Great Recession versus the Great Depression: stylized facts on siblings that were given different foster parents

Aiginger, Karl - 2010

This paper compares the depth of the Recent Crisis and the Great Depression. We use a new data set to compare the drop in activity in the industrialized countries for seven activity indicators. This is done under the assumption that the Recent Crisis leveled off in mid-2009 for production and...

Persistent link: https://www.econbiz.de/10010299944