The effect of wealth on consumption is an issue of longstanding interest to economists. Analysts believe that … impact of changes in wealth on household consumption and the overall macroeconomy. There is an extensive existing literature … fluctuations in household wealth have driven major swings in economic activity. This paper considers so-called wealth effects - the …

lifetime resources, on the current consumption and wealth accumulation of employees affected by the reform. In line with … and increases the wealth-income ratio by 0.32. The response is stronger for younger workers and for households where both …

-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 … rates, housing wealth, and stock wealth. Moreover, we find bidirectional causality between consumption and income, stock …

. Fifth, we find evidences that housing prices shock decreases consumption inequality while financial wealth shocks have a …This paper studies the heterogeneity of the marginal propensity to consume out of wealth (MPC) both across and within … countries. We estimate the MPC based on a cross-country harmonized household level dataset which combines surveys on wealth …

We estimate marginal propensities to consume from wealth shocks for Italian households in the early part of the Great … Recession. Large asset price shocks in 2008 underpin an IV estimator. A euro fall in risky financial wealth resulted in cuts in … annual total (non -durable) consumption of 8.5 ] 9 (5.5 -5.7) cents. There is evidence of effects on food spending. Responses …

Much of the literature on the effect of housing wealth on consumption has been embedded in a simple life-cycle model in … the classic Ando-Modigliani consumption function augmented by housing wealth can be deduced. It is shown that the deeper … population) as well as in mortgage markets have led to a structural break in the effect of housing wealth on consumption in the …

information on consumption, income and wealth, to structurally estimate a buffer-stock saving model. We exploit the information … contained in the joint dynamics of income, consumption and wealth to quantify the degree of insurance against income risk. The …We use the Italian Survey of Household Income and Wealth, a rather unique dataset with a long time dimension of panel …

information on consumption, income and wealth, to structurally estimate a buffer-stock saving model. We exploit the information … contained in the joint dynamics of income, consumption and wealth to quantify the degree of insurance against income risk. The …We use the Italian Survey of Household Income and Wealth, a rather unique dataset with a long time dimension of panel …

Much of the literature on the effect of housing wealth on consumption has been embedded in a simple life-cycle model in … changes in consumption. However, this might be a fallacy of composition. Such models ignore that changes in housing wealth … the classic Ando-Modigliani consumption function augmented by housing wealth can be deduced. It is shown that the deeper …

This study extends a thick modelling tool for aggregated euro area real private consumption of de Bondt et al. (2019 … decomposing disposable income into labour, property and transfer income is essential for understanding and forecasting consumption …. Finally, substantial crosscountry heterogeneity in marginal propensities to consume out of income and wealth components calls …