The study looked at what factors affect private spending in Israel from 1995 to 2015. They used a model to see how income, assets, home values, global trade, and other factors influence spending in the short and long term. They found that in the long term, spending is mainly influenced by income from work and financial assets. In the short term, changes in financial assets have the biggest impact on spending. Income from work and the security situation don't seem to affect spending much, but interest rates do after a year.