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

How sizable is the wealth effect on consumption in euro area countries? To address this question, we use newly … available harmonized euro area wealth data and the methodology in Carroll et al. (2011b). We find that the marginal propensity … to consume out of total wealth averaged across the largest euro area economies is around 3 cents per euro, with a …

This study empirically demonstrates the impact of wealth shocks from initial public offerings (IPOs) on local house … prices by distinguishing from changes in the uncertainty and availability of wealth. Applying spatial event study methods to …

Case, Quigley and Shiller (2013) distinguished and quantified two wealth effects in retail sales at the state level …: one from wealth held as corporate stock and one from wealth held in the form of home ownership. Here we investigate how … each of these wealth effects varies by frequency -- that is, over different levels of persistence in the wealth …