is not consumption. We propose a borrow-to-invest motive by which house price gains affect household spending on …, rather than through consumption smoothing. We test this motive by comparing responses in different categories of spending …

is not consumption. We propose an alternative borrow-to-invest motive by which house price gains affect household … reducing access to leveraged returns and so reducing lifetime resources, rather than through consumption smoothing. …

patient. I quantify the implications of changing circumstances for consumption and welfare. Later-born generations are … predicted to have higher consumption, despite accumulating no greater wealth, than their predecessors because their earnings are …

substantial intergenerational transfers help recipients to make consumption or investment decisions with a up-front fixed cost …

This paper compares the main findings from the fourth wave of the Household Finance and Consumption Survey (HFCS) for …

financial risks on consumption choices in the Mediterranean Region. The analysis is carried out using time series aggregate data … significantly influence consumption dynamics. Our estimates of the indexes of relative risk aversion and relative prudence, as well …

information on consumption, income and wealth, to structurally estimate a buffer-stock saving model. We exploit the information … contained in the joint dynamics of income, consumption and wealth to quantify the degree of insurance against income risk … do not impose any model structure on the consumption process. This suggests that Italian households do not have access to …

housing crash from 2006 to 2011 and its implications for aggregate and cross-sectional consumption during the Great Recession … consumption. Balance sheets act as a transmission mechanism from housing to consumption that depends on gross portfolio positions … and the leverage distribution. Low interest rate policies accelerate the recovery in housing and consumption …