according to the portfolio choice theory. Fewer still have tried to consider simultaneously the two-dimensional aspect of … dwellings for owner occupation and for renting out. We have tested the model on the Spanish Survey of Household Finances (EFF …

Household debt and house prices in the United Kingdom rose substantially between 1987 and 2006. In this paper we use a … calibrated overlapping generations model of the household sector to examine the extent to which changes in demographics, lower …

In this paper we study the role of household portfolio rebalancing channel for the aggregate and redistributive effects … subsequent wealth effect on consumption. In order to jointly study these effects, we introduce an heterogeneous household life … reduction in expected return on household portfolio. However, the strength of these two forces notably varies depending on …

for consumption of the individual worker. However, most household panel surveys contain consumption information only at … the household level. We show that proxying individual consumption by household consumption biases estimated Frisch … elasticities downward as limited commitment in the household induces individual consumption to behave differently from household …

During the period leading up to the recession of 2007-08, there was a large increase in household debt relative to …. It is sometimes claimed that these three developments were closely linked. In these stories, the rise in household debt … ask if this story is consistent with the empirical evidence. In particular, I ask five questions: How much household …

household debt in the aspects of ‘flow effect' arising in the course of changes in household debt size and ‘stock effect …' occuring due to the level of household loans, and then, empirically analyzes the effects using the Korean time series data and … the OECD panel data.The result of empirical estimation with GMM reveals that the flow effect of household debt facilitates …

Although the link between household size and consumption has strong empirical support, there is no consistent way in … deterministic changes in household size and composition affect optimal consumption decisions. We show theoretically that the …

) excess volatility in consumption and (2) household consumption elasticities that have low correlation with income. With a … using survey data on household expectations of their future income …

In this paper, we analyze the saving motives of European households using micro-data from the Household Finance and …-quarter of total household wealth in Europe provides further corroboration for this finding. …