consumption, construction and the banking system. This paper examines links for Germany between household portfolios, income and … consumption in a six-equation system, for 1980-2012 data, for consumption, house prices, consumer credit, housing loans, liquid … find evidence of well specified consumption and house price functions and that Germany differs greatly from the Anglo …

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 …

We revisit the transmission mechanism of monetary policy for household consumption in a Heterogeneous Agent New … intertemporal substitution drives virtually all of the transmission from interest rates to consumption. …

stock' model of optimal consumption in the presence of labor income uncertainty and credit constraints. Saving in the model …We argue that the U.S. personal saving rate's long stability (from the 1960s through the early 1980s), subsequent … saving rate's long-term decline, while fluctuations in net wealth and uncertainty capture the bulk of the business …