The wealthy hand-to-mouth are households who hold little or no liquid wealth (cash, checking, and savings accounts …

In this paper, we estimate expected return on housing by exploiting information from the variations in the consumption-wealth …

This paper considers two central problems in our statistical frameworks which impair the ability to use wealth to … assess economic sustainability or the impacts of economic downturns. Some increases in wealth may reflect increased economic … capacity of the economy. Another major problem in our wealth accounts is the “missing capital” required to explain the marked …

This paper studies the heterogeneity of the marginal propensity to consume out of wealth using French household surveys …. We find decreasing marginal propensity to consume out of wealth across the wealth distribution for all net wealth … assets, except in the top of the wealth distribution. Consumption is less sensitive to the value of the main residence than …

We attempt to disentangle income and wealth effects on consumption by disaggregating both the different types of income … and wealth. We estimate a consumption function for a panel of quarterly data for 14 advanced economies spanning 1998 to … different components of income and wealth. While fiscal policy had direct effects on consumption, the analysis suggests that …

This paper studies the heterogeneity of the marginal propensity to consume out of wealth using French household surveys …. We find decreasing marginal propensity to consume out of wealth across the wealth distribution for all net wealth … assets, excepted in the top of the wealth distribution. Consumption is less sensitive to the value of the main residence than …

its common trend with aggregate wealth and labour income, cay, and the housing risk premium. The evidence based on data …

, income, and wealth. We then contrast RI with habit formation and show that the two models make very different general …

Keynesian (HANK) model. The model yields empirically realistic distributions of household wealth and marginal propensities to …

, the estimated elasticity is consistent, theoretically and quantitatively, with a simple calibrated model with wealth …