The study quantifies stock market and housing market wealth effects on households.non-durable consumption using Italian household panel data (SHIW) of 1989-2002. We found all households react similarly to aggregate housing and stock market gains. We also found statistically and economically...

Marginal income taxes may have an insurance effect by decreasing the effective fluctuations of after-tax individual income. By compressing the idiosyncratic component of personal income fluctuations, higher marginal taxes should be negatively correlated with the dispersion of consumption across...

We investigate the issue of pervasive credit constraints among US households. There is considerable debate about the incidence of constraints and whether the observed low borrowing in some groups of the population arises from low demand or from denial of credit. Using information on unsecured...

The economics of consumer credit demand and supply / Giuseppe Bertola, Richard Disney, Charles Grant -- Consumer credit markets in the United States and Europe / Nicola Jentzsch, Ampara San Jos?e Riestra -- Household debt demand and supply: a cross-country comparison / Jonathan N. Crook --...