prices � on private consumption for a panel of sixteen emerging economies in Asia and Central and Eastern Europe. Using … household consumption positively in the long-run, with the elasticity of housing wealth being greater than that of stock market …

In this paper I estimate the impact of changes in real and financial wealth on private consumption for a panel of 17 … emerging economies from Asia and Central and Eastern Europe. Households' consumption, income and the two measures of real and … real and financial wealth positively affect households' consumption in the long-run, with the elasticity of housing wealth …

This paper estimates the wealth effects on consumption in the euro area as a whole. I show that: (i) financial wealth …; (iii) consumption growth exhibits strong persistence and responds sluggishly to shocks; and (iv) the immediate response of … consumption to wealth is substantially different from the longrun wealth effects. By disaggregating financial wealth into its …

In this work, I analyze the response of consumption and asset returns to unexpected wealth variation. Using data at … consumption, financial wealth shocks only have transitory effects; and (ii) similarly, unexpected variation in housing wealth …

among consumption, financial wealth, housing wealth and labor income (summarized by the variable cday) should help to …