Zeng, Jhih-Hong; Peng, Chi-Lu; Chen, Ming-Chi; Lee, … - In: Economic Modelling 32 (2013) C, pp. 488-495
This paper analyzes the effect of household wealth (including housing and financial wealth) on housing sales and probes … that housing wealth, income, and mortgage rates have long-run influences on housing sales. Looking at the short run, we … find that housing sales only respond to housing wealth and mortgage rates. When we distinguish the effects of financial …