This paper investigates the impact of financial liberalization on the relationship between consumption and total wealth …, increases the current consumption-wealth ratio. From the model, an aggregate long-run relationship is derived between … consumption, total wealth and financial liberalization which is estimated by state space methods using quarterly US data. The …

ex-ante homeowners who rate (cash-out) refinance an existing loan to increase savings (consumption) are significantly …

loan to increase lifetime savings are significantly more likely to underestimate their house value, while homeowners who … "cash-out refinance" an existing loan to fund current consumption are significantly more likely to overestimate their house …

asymmetry are usually considered as mutually exclusive. Using a single data set for US personal consumption, income and wealth …Various deviations from the Permanent Income consumption model with rational expectations have been discussed in the … literature, including loss aversion and liquidity constraints. In the existing literature, these two types of consumption …

consumption we estimate the link between the probability that several household members lose their job and the wealth and …Economic theory predicts that individuals exposed to the risk of losing their job postpone their consumption and … severance payments across contracts in the Spanish labor market. Using the 2002 and 2005 waves of a new survey of wealth and …

In this paper, we analyze the wealth accumulation and saving behavior of the retired elderly in Italy using micro data … from the "Survey of Italian Households' Income and Wealth," a panel survey of households conducted every two years by the … Bank of Italy. We find that, on average, the retired elderly in Italy are decumulating their wealth (dissaving) but that …

housing wealth e.ect. Stockholm's smaller city airport was expected to close in 2011 but its operating contract was …

We use data from the 2009 Internet Survey of the Health and Retirement Study to examine the consumption impact of … wealth shocks and unemployment during the Great Recession in the US. We find that many households experienced large capital … to consume with respect to housing and financial wealth are 1 and 3.3 percentage points, respectively. In addition, those …