01728cas a2200253 a 4500 AALejournalIMF015257 230101c9999 xx r poo 0 0eng d 5.00 USD 9781513584744 1018-5941 BD-DhAAL BD-DhAAL Jaramillo, Laura. It's Not All Fiscal : Effects of Income, Fiscal Policy, and Wealth on Private Consumption / Laura Jaramillo, Alexandre Chailloux. Washington, D.C. : International Monetary Fund, 2015. 1 online resource (30 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students We attempt to disentangle income and wealth effects on consumption by disaggregating both the different types of income and wealth. We estimate a consumption function for a panel of quarterly data for 14 advanced economies spanning 1998 to 2012, using an error correction specification. We find a significant long-term relation between consumption and the different components of income and wealth. While fiscal policy had direct effects on consumption, the analysis suggests that wealth effects were sizeable, and therefore need to be kept in mind when analyzing consumption trends going forward. Mode of access: Internet Chailloux, Alexandre. IMF Working Papers; Working Paper ; No. 2015/112 Full text available on IMF http://elibrary.imf.org/view/journals/001/2015/112/001.2015.issue-112-en.xml IMF e-Library