This paper studies the heterogeneity of the marginal propensity to consume out of wealth based on French household … surveys. This heterogeneity is driven by differences in both wealth composition and wealth levels. We find a decreasing … marginal propensity to consume out of wealth across the wealth distribution for all net wealth components. The marginal …

This paper analyzes the existence of 'wealth effects' derived from net equity (in the form of housing, financial assets …-2017. Overall, wealth effects are found to be relatively large and significant for housing wealth, but less so for other types of … wealth, including stocks. Furthermore, the analysis shows how these estimated marginal propensities to consume (MPC) from …

This paper studies the heterogeneity of the marginal propensity to consume out of wealth using French household surveys …. We find decreasing marginal propensity to consume out of wealth across the wealth distribution for all net wealth … assets, except in the top of the wealth distribution. Consumption is less sensitive to the value of the main residence than …

We attempt to disentangle income and wealth effects on consumption by disaggregating both the different types of income … and wealth. We estimate a consumption function for a panel of quarterly data for 14 advanced economies spanning 1998 to … different components of income and wealth. While fiscal policy had direct effects on consumption, the analysis suggests that …

This paper studies the heterogeneity of the marginal propensity to consume out of wealth using French household surveys …. We find decreasing marginal propensity to consume out of wealth across the wealth distribution for all net wealth … assets, excepted in the top of the wealth distribution. Consumption is less sensitive to the value of the main residence than …

How much and over what horizon do households adjust their consumption in response to stock market wealth shocks? We …

The study quantifies stock market and housing market wealth effects on households' non-durable consumption using … market gains. We also found statistically and economically significant housing wealth effects with a marginal propensity to … consume out of idiosyncratic housing wealth gains to be over 8 percent. The results from idiosyncratic equity wealth effects …

mortgage markets. The paper focuses specifically on: the transmission channel from housing wealth to consumption and on the …. Estimates of the marginal propensity to consume out of housing wealth are presented for ten OECD countries, where it is found …

The study primarily explores the linkage between wealth effects, arising from stock and housing market channels, and …-panel and country-level analyses. In this respect, we find that consumption is mostly explained by income and housing wealth is … consumption and stock wealth. The evidence also suggests a long-run cointegration relationship among consumption, income, interest …