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The Wealth and ist Effect on the Consumption in the Context of the Global Crisis: The Case of the Economic and Monetary Union (EMU)

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  • Menezes Ferreira, Vicente
  • Rodil Marzábal, Óscar

Abstract

The recent global financial crisis has emerged causing a strong impact on the growth of the main European economies. This crisis is producing extremely adverse effects on the real activity of the economy through diverse channels. Among these is the effect wealth, which supposes that the variation of the wealth levels can be leading to a variation in the private consumption. Therefore, this article has as the primary goal to analyze the evolution of the wealth levels and its resulting effect on the consumption, using aggregated macro data of ten EMU countries during the 2000-2010 quarterly periods.

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File URL: http://www.usc.es/econo/RGE/Vol21_ex/castelan/art8c.pdf
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Bibliographic Info

Article provided by University of Santiago de Compostela. Faculty of Economics and Business. in its journal Revista Galega de Economía.

Volume (Year): 21 (2012)
Issue (Month): ex ()
Pages:

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Handle: RePEc:sdo:regaec:v:21:y:2012:i:ex_8

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Postal: Avda Xoan XXIII S/N, 15704 Santiago de Compostela
Web page: http://www.usc.es/econo/RGE/benvidag.htm
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Keywords: Wealth effect; Consumption; Financial crisis; Economic and monetary union; Europe;

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