Resource title

International Wealth Effects

Resource image

image for OpenScout resource :: International Wealth Effects

Resource description

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.

Resource author

Jirka Slacalek

Resource publisher

Resource publish date

Resource language

eng

Resource content type

text/html

Resource resource URL

http://hdl.handle.net/10419/18489

Resource license

Adapt according to the presented license agreement and reference the original author.