Consumption, (Dis) aggregate wealth and asset returns
In this work, we analyze the importance of the disaggregation of wealth into its main components (financial and housing wealth). We show, from the consumer´s intertemporal budget constraint, that the residuals of the trend relationship among consumption, financial wealth, housing wealth and labor i...
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| Format: | workingPaper |
| Language: | eng |
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2005
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| Online Access: | http://hdl.handle.net/1822/2739 |
| Country: | Portugal |
| Oai: | oai:repositorium.sdum.uminho.pt:1822/2739 |