impact of changes in wealth on household consumption and the overall macroeconomy. There is an extensive existing literature …The effect of wealth on consumption is an issue of longstanding interest to economists. Analysts believe that … fluctuations in household wealth have driven major swings in economic activity. This paper considers so-called wealth effects - the …

countries. We estimate the MPC based on a cross-country harmonized household level dataset which combines surveys on wealth …. Fifth, we find evidences that housing prices shock decreases consumption inequality while financial wealth shocks have a …This paper studies the heterogeneity of the marginal propensity to consume out of wealth (MPC) both across and within …

an accumulation of household debt and a downturn in house prices has a substantial adverse impact on consumption. … sample for investigating the relevance of the housing net worth channel to consumption developments. The evidence presented … consumption. It does not have an impact outside that downturn. Consequently, the results add to the international evidence of how …

decomposing wealth according to the liquidity of household assets. In particular, we find that significant appreciation in the …During the period from 1990 to 2002, U.S. households experienced a dramatic wealth cycle, induced by a 369-percent … predictions at the time by some analysts relying on life-cycle models of consumption, consumer spending in real terms continued to …

beliefs about nominal debt and their own real net wealth. These changes in beliefs causally affect actual consumption and … hypothetical debt decisions. Our findings suggest that real wealth mediates the sensitivity of consumption to inflation once … concerned about its impact on their wealth; yet, while many households know about inflation eroding nominal assets, most are …

beliefs about nominal debt and their own real net wealth. These changes in beliefs causally affect actual consumption and … hypothetical debt decisions. Our findings suggest that real wealth mediates the sensitivity of consumption to inflation once … concerned about its impact on their wealth; yet, while many households know about inflation eroding nominal assets, most are …