framework for analysing the household flow of funds jointly with consumption. The consumption function incorporates household … interest rates. In a general equilibrium setting, these all have to be endogenised and since households make consumption and …

How sizable is the wealth effect on consumption in euro area countries? To address this question, we use newly …

consumption and hypothetical debt decisions. Our findings suggest that real wealth mediates the sensitivity of consumption to …

-44 year-old winning; (iii) losses were quite uniform across consumption quantiles because rigid rents served as a hedge for …

aggregate private consumption. We find the effects to be economically relevant, especially when the lower bound is binding …

, income and consumption. We use panel regressions and an instrumental variable approach. First, our panel-based MPC estimates … the reaction to losses versus gains. Fourth, higher MPC is obtained for the two main consumption expenditure categories …. Fifth, we find evidences that housing prices shock decreases consumption inequality while financial wealth shocks have a …

We study the cyclical dynamics of consumption in the euro area (EA) and the large EA countries by distinguishing … cross-country heterogeneity in how different factors (including durable-specific ones) explain consumption; (iii) the … strength of spillovers from durable to nondurable consumption, as predicted by theory, is empirically correlated with how much …

To predict the effects of the 2020 U.S. "CARES" act on consumption, we extend a model that matches responses of … households to past consumption stimulus packages. The extension allows us to account for two novel features of the coronavirus … likely be necessary if consumption spending is to recover. …

estimates the impact of the Covid-19 crisis on consumption. The panel provides, each month, household-specific indicators of the … concern causes a significant reduction in nondurable consumption. The paper also explores the potential impact on consumption … of government interventions and of another wave of Covid-19, using household-level consumption adjustments to scenarios …