the procyclicality that was an exceptional characteristic of consumption behavior of Korean households after the 1997 … currency crisis. The existing studies on consumption behavior changes after the currency crisis are mostly based on the … assumption that the occurrence of the changes was homogeneous across all age groups. In this paper, however, consumption …

English Abstract: In general, consumption plays a counter-cyclical role to smooth the amplitude of the growth rate … while showing a stable flow. However, in Korea after the global financial crisis, while sluggish consumption continued, a … pro-cyclicality of household consumption appeared in the business cycle contraction period. Previous studies have only …

English Abstract: This research aims to analyze the effects of financial and real assets on household consumption … which has decreased consumption consequently leading to the failure of the wealth effect mechanism. In addition, because …