. Finally, substantial crosscountry heterogeneity in marginal propensities to consume out of income and wealth components calls … decomposing disposable income into labour, property and transfer income is essential for understanding and forecasting consumption …

This paper studies the heterogeneity of the marginal propensity to consume out of wealth (MPC) both across and within … countries. We estimate the MPC based on a cross-country harmonized household level dataset which combines surveys on wealth …, income and consumption. We use panel regressions and an instrumental variable approach. First, our panel-based MPC estimates …

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 paper studies the heterogeneity of the marginal propensity to consume out of wealth (MPC) both across and within … countries. We estimate the MPC based on a cross-country harmonized household level dataset which combines surveys on wealth …, income and consumption. We use panel regressions and an instrumental variable approach. First, our panel-based MPC estimates …

This paper studies the heterogeneity of the marginal propensity to consume out of wealth (MPC) both across and within … countries. We estimate the MPC based on a cross-country harmonized household level dataset which combines surveys on wealth …, income and consumption. We use panel regressions and an instrumental variable approach. First, our panel-based MPC estimates …

This paper adds to the literature on wealth effects on consumption by disentangling financial wealth effects from … housing wealth effects for the euro area. We use two macro-datasets for our estimations, one on the aggregate euro area for … of all wealth variables on euro area consumption is significant and positive in most specifications for both datasets …