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 … impact of changes in wealth on household consumption and the overall macroeconomy. There is an extensive existing literature …

and wealth in Turkey, arising from equity and housing market channels over the period from 1998 Q1 to 2016 Q2. We employ … analysis are used for verifying the effects of shocks. The results suggest that income, credit and housing wealth are … positively, interest rate and equity market wealth are negatively associated with consumption. Variance decomposition and impulse …

degree of heterogeneity in household preferences or beliefs is sufficient to match empirical measures of wealth inequality in … macroeconomic models (even ones including some heterogeneity). The high MPC arises because many consumers hold little wealth despite … on how the shock is distributed across households (depending, e.g., on their wealth, or employment status). …

Recent studies of economic inequality almost always separately examine income, consumption, and wealth inequality and … levels of wealth and find that the marginal propensity to consume is lower at higher wealth quintiles. This suggests that low-wealth … households cannot smooth consumption as much as other households do, which further implies that increasing wealth inequality …