consumption, financial wealth shocks only have transitory effects; and (ii) similarly, unexpected variation in housing wealth …In this work, I analyze the response of consumption and asset returns to unexpected wealth variation. Using data at … quarterly frequency for the U.S. and the U.K., I show that: (i) while housing wealth shocks have a very persistent effect on …

This paper analyzes the wealth effect on consumption in France by relying on two original household surveys. First, it … on household self-assessed changes in future consumption (survey PATER). Besides the direct wealth effect, our results … confirm the role played by changes in expectations on consumption plans, and thus, by the confidence channel as an additional …

deviations from the common trend among consumption, aggregate wealth, and labour income, cay, and focus on the implications for … future stock returns to be higher, they will temporarily allow consumption to rise. Regarding housing returns, if housing … substitutes consumption will be temporarily reduced. …

consumption, aggregate wealth, and labour income should predict both stock returns and housing returns. We use quarterly data for … temporarily allow consumption to rise. Regarding housing returns, if housing assets are complementary to stocks, then investors … wealth held in the form of housing (i.e., when stock and housing assets are substitutes), then they will temporarily reduce …

deviations from the common trend among consumption, aggregate wealth, and labour income, cay, and focus on the implications for … future stock returns to be higher, they will temporarily allow consumption to rise. Regarding housing returns, if housing … substitutes consumption will be temporarily reduced. …

consumption, aggregate wealth, and labour income should predict both stock returns and housing returns. We use quarterly data for … temporarily allow consumption to rise. Regarding housing returns, if housing assets are complementary to stocks, then investors … wealth held in the form of housing (i.e., when stock and housing assets are substitutes), then they will temporarily reduce …

consumption, aggregate wealth, and labour income should predict both stock returns and housing returns. We use quarterly data for … temporarily allow consumption to rise. Regarding housing returns, if housing assets are complementary to stocks, then investors … wealth held in the form of housing (i.e., when stock and housing assets are substitutes), then they will temporarily reduce …

deviations from the common trend among consumption, aggregate wealth, and labour income, cay, and focus on the implications for … future stock returns to be higher, they will temporarily allow consumption to rise. Regarding housing returns, if housing … substitutes consumption will be temporarily reduced. …

consumption, aggregate wealth, and labour income should predict both stock returns and housing returns. We use quarterly data for … temporarily allow consumption to rise. Regarding housing returns, if housing assets are complementary to stocks, then investors … wealth held in the form of housing (i.e., when stock and housing assets are substitutes), then they will temporarily reduce …

deviations from the common trend among consumption, aggregate wealth, and labour income, cay, and focus on the implications for … future stock returns to be higher, they will temporarily allow consumption to rise. Regarding housing returns, if housing … substitutes consumption will be temporarily reduced. …