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Title:International Wealth Effects PDF Logo
Authors:Slacalek, Jirka
Issue Date:2006
Series/Report no.:DIW-Diskussionspapiere 596
Abstract: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.
Subjects:wealth effect
income effect consumption dynamics sticky information
Document Type:Working Paper
Appears in Collections:DIW-Diskussionspapiere
Publikationen von Forscherinnen und Forschern des DIW

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