کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
965576 930819 2007 17 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Does wealth affect consumption? Evidence for Italy
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Does wealth affect consumption? Evidence for Italy
چکیده انگلیسی
This paper analyzes the dynamics of Italian households' net worth over the 1990s and assesses the strength of the wealth effects on consumption, using as a benchmark the United States. Overall, wealth effects in Italy appear to be small and unlikely to be direct. Financial wealth effects have been small because Italian households are not large scale owners of financial assets, even though their marginal propensity to consume out of financial wealth lies close to that reported for the US. By contrast, housing market effects have been small, despite widespread homeownership, because the marginal propensity to consume out of real assets is very low.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Macroeconomics - Volume 29, Issue 1, March 2007, Pages 189-205
نویسندگان
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