consumption, construction and the banking system. This paper examines links for Germany between household portfolios, income and … consumption in a six-equation system, for 1980-2012 data, for consumption, house prices, consumer credit, housing loans, liquid … find evidence of well specified consumption and house price functions and that Germany differs greatly from the Anglo …

There is widespread disagreement about the role of housing wealth in explaining consumption.  This paper exploits … authors, to explain fluctuations in the ratios of consumption and household debt to income in South Africa, from 1971 to 2005 … variable with key interactions with drivers of consumption and debt.  Credit conditions are proxied by a spline function …

There is widespread disagreement about the role of housing wealth in explaining consumption. This paper exploits liquid …, to explain fluctuations in the ratios of consumption and household debt to income in South Africa, from 1971 to 2005. The … variable with key interactions with drivers of consumption and debt. Credit conditions are proxied by a spline function …

backdrop, we investigate if household leverage matters for private consumption in adverse economic environments even without … severe financial disruptions. We find that the balance sheet positions in terms of the leverage ratio may weaken consumption … growth. We also find that the depressive effect of debt on consumption may differ across types of consumer spending and …

households, we estimate substantial heterogeneity in consumption responses to a change in monetary policy through the cash …

This paper studies the direct impact of households' debt on consumption over the business cycle. We use household … leverage, consumption, and asset prices. We find that debt levels exert a negative impact on consumption, which is particularly …' debt in past periods are not relevant in determining consumption; (ii) households adjust faster their consumption to debt …

sample for investigating the relevance of the housing net worth channel to consumption developments. The evidence presented … consumption. It does not have an impact outside that downturn. Consequently, the results add to the international evidence of how … an accumulation of household debt and a downturn in house prices has a substantial adverse impact on consumption. …

This paper studies the consumption response to an increase in the domestic value of foreign currency household debt … during a large depreciation. We use detailed consumption survey data that follows households for four years around Hungary …'s 2008 currency crisis. We find that, relative to similar local currency debtors, foreign currency debtors reduce consumption …