This paper investigates the impact of financial liberalization on the relationship between consumption and total wealth …, increases the current consumption-wealth ratio. From the model, an aggregate long-run relationship is derived between … consumption, total wealth and financial liberalization which is estimated by state space methods using quarterly US data. The …

information on consumption, income and wealth, to structurally estimate a buffer-stock saving model. We exploit the information … contained in the joint dynamics of income, consumption and wealth to quantify the degree of insurance against income risk. The …We use the Italian Survey of Household Income and Wealth, a rather unique dataset with a long time dimension of panel …

information on consumption, income and wealth, to structurally estimate a buffer-stock saving model. We exploit the information … contained in the joint dynamics of income, consumption and wealth to quantify the degree of insurance against income risk. The …We use the Italian Survey of Household Income and Wealth, a rather unique dataset with a long time dimension of panel …

information on consumption, income and wealth, to structurally estimate a buffer-stock saving model. We exploit the information … contained in the joint dynamics of income, consumption and wealth to quantify the degree of insurance against income risk. The …We use the Italian Survey of Household Income and Wealth, a rather unique dataset with a long time dimension of panel …

information on consumption, income and wealth, to structurally estimate a buffer-stock saving model. We exploit the information … contained in the joint dynamics of income, consumption and wealth to quantify the degree of insurance against income risk …We use the Italian Survey of Household Income and Wealth, a rather unique dataset with a long time dimension of panel …

The effect of wealth on consumption is an issue of longstanding interest to economists. Analysts believe that … impact of changes in wealth on household consumption and the overall macroeconomy. There is an extensive existing literature … fluctuations in household wealth have driven major swings in economic activity. This paper considers so-called wealth effects - the …