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

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 …

. Fifth, we find evidences that housing prices shock decreases consumption inequality while financial wealth shocks have a …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 …

This paper analyzes the existence of 'wealth effects' derived from net equity (in the form of housing, financial assets …-2017. Overall, wealth effects are found to be relatively large and significant for housing wealth, but less so for other types of … wealth, including stocks. Furthermore, the analysis shows how these estimated marginal propensities to consume (MPC) from …

In a recent paper (quot;A Primer on the Economics and Time Series Econometrics of Wealth Effects,quot; 2001), Davis and … Palumbo investigate the empirical relation between three cointegrated variables: aggregate consumption, asset wealth, and … changes in income and wealth? Is the adjustment rapid, occurring within a quarter, or more sluggish, taking place over many …

individual exposure to the shock. We find large effects of the shock on long-run household wealth, with the effect growing over …Housing is the main asset through which households accumulate wealth and its taxation is highly debated. We provide the … first empirical estimates of the long-run effects of shocks to property taxation on lifetime wealth accumulation and …

large majority of subjects indeed have a bias in the perception of wealth, such that balance sheet composition matters: for … implies greater perceived wealth. The predominance of this bias is explained by low cognitive sophistication and great …

large majority of subjects indeed have a bias in the perception of wealth, such that balance sheet composition matters: for … implies greater perceived wealth. The predominance of this bias is explained by low cognitive sophistication and great …