The study quantifies stock market and housing market wealth effects on households' non-durable consumption using … market gains. We also found statistically and economically significant housing wealth effects with a marginal propensity to … consume out of idiosyncratic housing wealth gains to be over 8 percent. The results from idiosyncratic equity wealth effects …

and wealth in Turkey, arising from equity and housing market channels over the period from 1998 Q1 to 2016 Q2. We employ … analysis are used for verifying the effects of shocks. The results suggest that income, credit and housing wealth are … positively, interest rate and equity market wealth are negatively associated with consumption. Variance decomposition and impulse …

and wealth inequality, and studies how they have developed. The analysis shows less wage dispersion in Spain than in other … of a decrease in expenditure on consumer durables by low-income households. Wealth inequality exceeds income inequality … and increased during the downturn as a result of financial assets outperforming real assets. Nevertheless, Spain’s wealth …

The study primarily explores the linkage between wealth effects, arising from stock and housing market channels, and …-panel and country-level analyses. In this respect, we find that consumption is mostly explained by income and housing wealth is … consumption and stock wealth. The evidence also suggests a long-run cointegration relationship among consumption, income, interest …

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 …

A method to impute consumption expenditure inequality between wealth groups in the Survey of Consumer Finances is … provided, allowing for measurement error that is correlated with income and wealth. Identification is derived from observing … between top and bottom wealth quintiles is estimated to have increased by 50% between 2004 and 2013, indicating that observed …

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 … are very similar to those obtained on aggregate data and show substantial heterogeneity across countries. The wealth …

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 adds life-cycle features to a New Keynesian model and shows how this places financial wealth at the center …

wealth - housing and financial - and four categories of consumption expenditure. which include total consumption, service … between housing wealth and consumption expenditure, whereas its effect on the association between financial wealth and …