We study how homeowners' consumption responds to a negative and anticipated disposable income shock: the beginning of … the amortisation period on interest-only mortgages. We identify spending behavior through an event study approach, by … matching loan-level data that covers the universe of Danish mortgages to detailed administrative registries on borrowers. In …

consumption-saving behavior. We construct a novel consumption-saving model where the household must infer the persistent component … marginal propensity to consume because the short run covariance between income growth and consumption growth increases when … can be identified from panel data on income and consumption. Finally, we estimate a high degree of knowledge in the Panel …

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 …

consumption responds to changes in stock market returns. We exploit households' portfolio weights in previous years as an … distribution. We also find that households' consumption is significantly more responsive to dividend payouts across all parts of … their consumption with respect to capital gains and dividends income as if they were separate sources of income. …

Using a macro quantile factor model, we examine cross-state (i.e., cross-quantile) heterogeneity in consumption … behaviors. We find that common macro factors generate a “big bang/crunch” effect on micro consumption. Generally speaking, when … the aggregate effect of the common factors on the consumption in low consumption-growth states is negative (resp. positive …

consumption-saving behavior. We construct a novel consumption-saving model where the household must infer the persistent component … marginal propensity to consume because the short run covariance between income growth and consumption growth increases when … can be identified from panel data on income and consumption. Finally, we estimate a high degree of knowledge in the Panel …

for the extent of cross‐country asymmetries in aggregate consumption responses to changes in the real interest rate …. Across groups with different housing tenure, we find that the consumption response of homeowners to interest rate changes …

consumption responds to changes in stock market returns. We exploit households' portfolio weights in previous years as an … distribution. We also find that households' consumption is significantly more responsive to dividend payouts across all parts of … their consumption with respect to capital gains and dividends income as if they were separate sources of income. …

We show individuals investments chase stock index returns and are financed by foregoing consumption, even after … foregone consumption occurs in the week after stock index returns are realized and are more pronounced for luxuries than … consumption, more consistent with theories of extrapolative expectations and loss aversion …

Recent studies of economic inequality almost always separately examine income, consumption, and wealth inequality and …-wealth households cannot smooth consumption as much as other households do, which further implies that increasing wealth inequality … likely reduces aggregate consumption and limits economic growth …