combines Mexican and U.S. data to estimate a dynamic model of consumption, emigration and re-migration, accounting for … migrant. For lower-income migrants, a rise in Mexican wages leads to a more than proportional effect on consumption …

This paper employs Swedish data on households' stock holdings to investigate how consumption responds to changes in … a flat 5 percent for the rest of the distribution. Households' consumption is significantly more responsive to dividend …

a constant consumption stream across their lifecycle saving till retirement and dis-saving thereafter. The reality is …

This paper quantifies the extent of heterogeneity in consumption responses to changes in real interest rates and house …, observed in the Household Finance and Consumption Survey (HFCS) for these countries. We then show that the heterogeneity in … household finances implies that responses of consumption to changes in the real interest rate and in house prices differ …

This paper studies the direct impact of households' debt on consumption over the business cycle. We use household … leverage, consumption, and asset prices. We find that debt levels exert a negative impact on consumption, which is particularly …' debt in past periods are not relevant in determining consumption; (ii) households adjust faster their consumption to debt …