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In this paper, we analyze the saving motives of European households using micro-data from the Household Finance and …-quarter of total household wealth in Europe provides further corroboration for this finding. …
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Italian household panel data (SHIW) of 1989-2002. We found all households react similarly to aggregate housing and stock …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 …
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