beliefs about nominal debt and their own real net wealth. These changes in beliefs causally affect actual consumption and … hypothetical debt decisions. Our findings suggest that real wealth mediates the sensitivity of consumption to inflation once … concerned about its impact on their wealth; yet, while many households know about inflation eroding nominal assets, most are …

wealth. Moving is often associated with retirement and with precipitating shocks like the death of a spouse or by other … changes in marital status. Median housing wealth increases as the elderly age. Even when the elderly move, housing equity is … transaction cost associated with moving is apparently not the cause for the lack of the reduction in housing wealth as the elderly …

Both textbook economics and common sense teach us that the value of household wealth should be related to consumer … suggest. An important first step in understanding the consumption-wealth linkage is determining how closely the two variables … in consumption. This paper provides evidence that a surprisingly small fraction of the variation in household net worth …

This paper studies how household inequality shapes the effects of the zero lower bound (ZLB) on nominal interest rates … combine low inflation targets and high levels of wealth inequality …

, particularly in high homeownership locations, because greater housing wealth reduces homeowners' demand elasticity, and firms raise …