- Description
- 53 p.; 21 x 29.7cm.
- Summary
- This paper provides new empirical results linking financial and housing wealth to household consumption for the United States, Japan and the euro area. The results suggest that there are important cross-country differences in how wealth, especially housing wealth, affects consumption. They further demonstrate that it can be important to take into account wealth effects on consumption in short-term forecasting exercises, a point which is particularly well illustrated in relation to the recent economic crisis. In addition, conditional projections underline the importance of asset price developments and wealth in determining US savings over the medium term.
- Series Statement
- OECD Economics Department Working Papers, 1815-1973 ; no.869
- Uniform Title
- OECD Economics Department Working Papers, no.869.
- Subject
- LCCN
- 10.1787/5kgc42qxm237-en
- OCLC
- oecd-lib-003969
- Author
Kerdrain, Clovis.
- Title
How Important is Wealth for Explaining Household Consumption Over the Recent Crisis? [electronic resource]: An Empirical Study for the United States, Japan and the Euro Area / Clovis Kerdrain
- Imprint
Paris : OECD Publishing, 2011.
- Series
OECD Economics Department Working Papers, 1815-1973 ; no.869
OECD Economics Department Working Papers, 1815-1973 ; no.869.
- Connect to:
- Indexed Term
Economics
Euro Area
Japan
United States
- Other Standard Identifier
10.1787/5kgc42qxm237-en doi