Arbeitspapier
International Wealth Effects
This paper investigates the wealth effect for 16 industrial countries using the recently proposed technique that exploits the sluggishness of consumption growth. I estimate that the longrun marginal propensity to consume from wealth varies from less than 0.5 cents in France to 4.5 cents in the US. I document that the wealth effect tends to be larger in countries with more developed financial markets and has decreased in the last twenty years.
- Sprache
-
Englisch
- Erschienen in
-
Series: DIW Discussion Papers ; No. 596
- Klassifikation
-
Wirtschaft
Macroeconomics: Consumption; Saving; Wealth
Single Equation Models; Single Variables: Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
Business Fluctuations; Cycles
- Thema
-
wealth effect
income effect consumption dynamics sticky information
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Slacalek, Jirka
- Ereignis
-
Veröffentlichung
- (wer)
-
Deutsches Institut für Wirtschaftsforschung (DIW)
- (wo)
-
Berlin
- (wann)
-
2006
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:41 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Slacalek, Jirka
- Deutsches Institut für Wirtschaftsforschung (DIW)
Entstanden
- 2006
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