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 …

of the way to identify financial constraints is to look at the importance of household wealth in the decision to become … wealth if talent is unobserved; other unobservable household characteristics create similar problems. This paper makes a … significant up-front investments in their business. The evidence is that in Italy household wealth matters in the decision to …

importance should decrease with wealth. I test these theoretical predictions for the Italian case, using the Survey of Household … Income and Wealth. The evidence is that household's initial wealth is indeed important in the decision to become an … model. Finally, conditional on becoming entrepreneurs, initial household wealth does not significantly affect the size of …

or tightening access to mortgages may affect the distribution of household wealth in the country. In a stylised model we … emerging markets and advanced countries alike. Given that housing is the most important asset in household portfolios, relaxing … show that the final level of wealth inequality depends on the size of the LTV ratio, housing prices, credit cost and the …

We test whether relative risk aversion varies with wealth using the Panel Study of Income Dynamics data in the U.S. Our … analytical results indicate the following implications. For each household, there are two channels through which the risky share … responds to wealth fluctuations, the income channel and the habit channel. For across households, there are heterogeneous …

three factors, in addition to the common household and demographic factors, are relevant for the net wealth accumulation …Results from the Eurosystem Household Finance and Consumption Survey reveal substantial variation in household net … wealth across euro area countries that await explanation. This paper focuses on three main factors for the wealth …

three factors, in addition to the common household and demographic factors, are relevant for the net wealth accumulation …Results from the Eurosystem Household Finance and Consumption Survey reveal substantial variation in household net … wealth across euro area countries that await explanation. This paper focuses on three main factors for the wealth …

Aggregate household wealth dynamics are closely associated with fluctuations of the economy. However, the linkages … between household wealth dynamics and cross-border financial holdings have remained unexamined. Thanks to the recent assembly … increases in net household wealth are associated with deteriorations of the Net International Investment Position (NIIP). This …

comprehensive study of wealth and its distribution in Germany since the 19th century. We combine tax and archival data, household … insights into the role of country-specific shocks in shaping long-run wealth dynamics. This paper presents the first … surveys, historical national accounts, and rich lists to analyze the evolution of the German wealth distribution over the long …

comprehensive study of wealth and its distribution in Germany since the 19th century. We combine tax and archival data, household … insights into the role of country-specific shocks in shaping long-run wealth dynamics. This paper presents the first … surveys, historical national accounts, and rich lists to analyze the evolution of the German wealth distribution over the long …