Monetary Policy Transmission through the Consumption-Wealth Channel

By Sydney C. Ludvigson, C. Steindel, Martin Lettau. 2005

147 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/5ffb4e10ce5f77adfbea51f4f4c42c835128416e

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Citations in the corpus

• Stock Market Returns and Consumption (2020, background): “In fact, our estimate of a significantly positive MPC out of capital gains allows us to conclude that near rational behavior, in which households treat capital gains and dividends as separate sources of income, might be a better description of households’ behavior than a mental 6 See Baker, Nagel an”