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 …

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 …

for consumption of the individual worker. However, most household panel surveys contain consumption information only at … the household level. We show that proxying individual consumption by household consumption biases estimated Frisch … elasticities downward as limited commitment in the household induces individual consumption to behave differently from household …

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 …

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

This paper examines how homeownership status shapes attention to inflation and its impact on durable consumption. Using …