, and measures of aggregate consumption for each of the geographic units over time. We estimate regressions relating … consumption to income and wealth measures, finding a statistically significant and rather large effect of housing wealth upon … household consumption. …

financial assets, and measures of aggregate consumption for each of the geographic units over time. We estimate regression … models in levels, first differences and in error-correction form, relating per capita consumption to per capita income and … wealth. We find a statistically significant and rather large effect of housing wealth upon household consumption. This effect …

assets, and measures of aggregate consumption for each of the geographic units over time. We estimate regression models in … levels, first differences and in error-correction form, relating consumption to income and wealth measures. We find a … statistically significant and rather large effect of housing wealth upon household consumption.  …

, and measures of aggregate consumption for each of the geographic units over time. We estimate regressions relating … consumption to income and wealth measures, finding a statistically significant and rather large effect of housing wealth upon … household consumption. …

, and measures of aggregate consumption for each of the geographic units over time. We estimate regression models in levels …, first differences and in error-correction form, relating consumption to income and wealth measures. We find a statistically … significant and rather large effect of housing wealth upon household consumption. …

Consumption is the largest component of GDP. Since the 1950s, the life cycle and the permanent income models have … constituted the main analytical tools to the study of consumption behaviour, both at the micro and at the aggregate level. Since … the literature to estimate preferences is the lack of a ‘consumption function’. A challenge for future research is to use …

The standard approach to modelling consumption/saving problems is to assume that the decisionmaker is solving a dynamic … stochastic optimization problem However under realistic descriptions of utility and uncertainty the optimal consumption …