WEALTH EFFECTS AND MACROECONOMIC DYNAMICS
WEALTH EFFECTS AND MACROECONOMIC DYNAMICS
复制标题
DOI：
10.1111/joes.12090
复制
发表时间：
2016-02-01
影响因子：
5.3
通讯作者：
Dynan, Karen
中科院分区：
文献类型：
--
作者：
Cooper, Daniel;Dynan, Karen
财富对消费的影响是经济学家长期感兴趣的问题。传统观点认为，家庭财富的波动推动了美国和海外经济活动的大幅波动。本文考虑了所谓的消费财富效应。现有的大量关于财富效应的文献已经产生了一些见解。例如，研究已经记录了随着时间的推移，家庭总财富和总消费之间的关系，大量家庭层面的研究表明，面临信贷限制的家庭的财富影响更大。然而，家庭财富对消费的影响也存在许多悬而未决的问题。我们回顾了这些问题中最重要的问题，并认为需要在这些领域进行更多的研究，以及有更好的数据来源来进行这种分析。
The effect of wealth on consumption is an issue of long-standing interest to economists. Conventional wisdom suggests that fluctuations in household wealth have driven major swings in economic activity both in the United States and abroad. This paper considers the so-called consumption wealth effects. There is an extensive existing literature on wealth effects that has yielded some insights. For example, research has documented the relationship between aggregate household wealth and aggregate consumption over time, and a large number of household-level studies suggest that wealth effects are larger for households facing credit constraints. However, there are also many unresolved issues regarding the influence of household wealth on consumption. We review the most important of these issues and argue that there is a need for much more research in these areas as well as better data sources for conducting such analysis.