Much of the literature on the effect of housing wealth on consumption has been embedded in a simple life-cycle model in … which housing price changes work as a "wealth effect". In such models, windfall gains in housing always lead to positive … wealth have distributional consequences between those planning to sell their house and those planning to buy a house. Further …

The study seeks to examine stock market wealth effects on private non-durable consumption for Zimbabwean households … relationship between stock market wealth and consumption. An autoregressive distributed lag model (ARDL) analysis is implemented to … significant wealth effects for Zimbabwe, a developing country. This contradicts the commonly held view that LDCs should have …

post-war dynamics of aggregate consumer spending, labor earnings, and household wealth. The first shock accounts for … the last 25 years, the cumulative effect of this shock has persistently boosted stock market wealth and persistently … that the 2000-02 asset market crash was the result of a negative transitory wealth shock, which predominantly affected …

This paper examines the impact of changes in household wealth on homeowners' consumption behavior using recent panel … household wealth to be roughly 1.0% for housing and 1.8% for financial wealth. Furthermore, we also find that homeowners …' consumption responses are asymmetric; that is, the housing and financial wealth effects are substantially larger for households …

total wealth, i.e. financial, housing and human wealths, are cointegrated and that deviations from the common trend cahy is … a proxy for the consumption-wealth ratio that should predict expected returns on financial assets and housing. Using U … break in the mid-eighties. Moreover, we show that until the beginning of 2000, consumption spending and housing wealth were …

This paper studies the heterogeneity of the marginal propensity to consume out of wealth based on French household … surveys. This heterogeneity is driven by differences in both wealth composition and wealth levels. We find a decreasing … marginal propensity to consume out of wealth across the wealth distribution for all net wealth components. The marginal …

This paper investigates the impact of financial liberalization on the relationship between consumption and total wealth … (i.e., the sum of asset wealth and human wealth). Financial liberalization is persistent and may signal changes in … expected future consumption growth rates and/or in rates of return on wealth that, through the inter-temporal budget constraint …

aggregate consumption, wealth and asset returns. Our present-value approach decomposes fluctuations in the global consumption-to-wealth … analysis identifies two historical episodes where the consumption-to-wealth ratio declined rapidly below its historical average …