Disaggregate Wealth and Aggregate Consumption: an Investigation of Empirical Relationships for the G7*
نویسندگان
چکیده
منابع مشابه
Disaggregate Wealth and Aggregate Consumption: an Investigation of Empirical Relationships for the G7*
To date, studies of wealth effects on consumption have mainly used aggregate wealth definitions on a single-country basis. This study seeks to break new ground by analysing disaggregated financial wealth in consumption functions for G7 countries. Contrary to earlier empirical work, we find that illiquid financial wealth (i.e. securities, pensions and mortgage debt) tends to be a more important ...
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ژورنال
عنوان ژورنال: Oxford Bulletin of Economics and Statistics
سال: 2003
ISSN: 0305-9049,1468-0084
DOI: 10.1111/1468-0084.00044