---that lowers the probability that a household refinances in a given period at any incentive. We estimate the model on high …

an accumulation of household debt and a downturn in house prices has a substantial adverse impact on consumption. …

financial behavior. We find that private consumption is excessively sensitive to dividend income. Investors across wealth …

Exploring dynamics of household final consumption is an important concern for policy-makers. Turkey had witnessed … and therefore, other macroeconomic variables. In this paper, we examine the linkage between household final consumption … and wealth in Turkey, arising from equity and housing market channels over the period from 1998 Q1 to 2016 Q2. We employ …

By means of a laboratory experiment, we show that, contrary to standard consumer theory, financially equivalent balance … large majority of subjects indeed have a bias in the perception of wealth, such that balance sheet composition matters: for … implies greater perceived wealth. The predominance of this bias is explained by low cognitive sophistication and great …